Bitcoin plunged on Monday and fell below €75,000 as the wider crypto market extended its steep decline after the October record.
Cryptocurrencies entered another month in negative territory as Bitcoin dropped more than 5% in early European trading.
Bitcoin reached about €110,000 in early October before it began a long and sharp retreat driven by heavy liquidations and broad sell-offs.
The coin lost more than 16% of its value in November and briefly moved toward €74,000.
Other major cryptocurrencies also lost value on Monday, with Ethereum and Solana falling more than 5% and continuing the downward trend that started in October.
Bitcoin showed short-lived signs of stability last month before prices resumed their fall.
Shifting Investor Behavior
Stocks also declined in recent weeks as investors adopted risk-averse strategies and kept inflows into Bitcoin exchange-traded funds low.
An ETF groups assets such as stocks, bonds, commodities, or Bitcoin into a single product.
Investors buy one ETF share to gain exposure to everything the fund holds.
They often sell ETF shares when underlying assets drop, which pushes the ETF value lower.
Global uncertainty and reduced investor appetite dragged Bitcoin down as traders abandoned risky assets after weak economic indicators and diminishing hopes of early rate cuts from central banks like the US Federal Reserve and the Bank of England.
Experts also link the fall to aggressive trading strategies used by professional investors.
Comparisons With Broader Tech Markets
Many investors hoped Bitcoin would behave like a safe-haven asset similar to digital gold, yet its instability suggests it behaves more like tech-related stocks.
Nvidia, a leading GPU chip maker, also soared this year and recently experienced similarly steep declines.
