Bitcoin fell sharply on Monday, dropping below €75,000 as the cryptocurrency market extended its steep decline.
The coin fell more than 5% in European trading, continuing the downtrend that began after its October record.
Bitcoin reached around €110,000 in early October before the market experienced heavy liquidations and widespread sell-offs.
In November, Bitcoin lost over 16% of its value, briefly approaching €74,000.
Other major cryptocurrencies also dropped, with Ethereum and Solana each falling more than 5%, extending October’s losses.
Bitcoin showed brief stabilisation last month, but each rebound faded as prices started falling again.
Investors Retreat From Risk
Stocks also declined in recent weeks as investors shifted toward safer assets and avoided Bitcoin ETFs.
ETFs bundle assets like stocks, bonds, commodities, or Bitcoin into a single investment product.
Investors sell ETF shares when underlying assets decline, causing the ETF’s value to drop.
Global market uncertainty and weaker economic signals pushed Bitcoin lower as traders dumped riskier assets.
Investors reacted to fading hopes of early interest-rate cuts by central banks such as the Federal Reserve and Bank of England.
Experts link Bitcoin’s slump to aggressive trading strategies by professional investors.
Bitcoin Mirrors Tech Volatility
Investors hoped Bitcoin would act like a safe-haven asset similar to digital gold.
Recent price swings show Bitcoin behaves more like tech-adjacent stocks than a stable store of value.
Nvidia, a leading GPU maker, surged earlier this year but also experienced sharp declines, reflecting similar market volatility.
