Bitcoin, Ethereum fall sharply as crypto sell-off resumes
Bitcoin and Ethereum fell on Monday, as the recent sell-off in cryptocurrencies resumed.
Bitcoin tumbled sharply and was last seen about $86,273.68 at around 7:30 a.m. in London on Monday, a slide of about 5.5%. Ethereum dropped more than 6.5% in early trade, to reach $2831.95.
Solana had fallen almost 7.7%, and was last seen at $126.75, while other closely-watched tokens were also in the red, including Dogecoin, which slipped 8.4%.
BTC.
In Asia, a statement by the People’s Bank of China on Saturday warning of illegal activities relating to digital currencies heaped pressure on Hong Kong-listed shares of digital assets-related companies, which retreated during Monday’s session.
The fresh slide in digital assets chimes with a broader risk-off sentiment at the start of a new month.
Macroeconomic concerns — including uncertainty over a possible U.S. rate cut — continue to weight on investors’ minds, while nagging doubts over overheated valuations in artificial intelligence-related names contributed to November’s bumpy markets as crypto volatility heightened.
