Bitcoin tumbled on Monday, dropping below €75,000 as the broader cryptocurrency market extended its post-October decline.
Cryptocurrencies entered a new month in the red as Bitcoin lost over 5% in European trading.
After peaking near €110,000 in early October, Bitcoin experienced sharp and prolonged declines caused by heavy liquidations and sell-offs.
In November, Bitcoin dropped more than 16% and briefly approached €74,000.
Other leading cryptocurrencies, including Ethereum and Solana, fell over 5%, continuing the downward momentum seen since October.
Bitcoin showed brief stabilisation last month, but those rebounds proved short-lived and prices resumed their decline.
Investors Turn to Safer Assets
Stocks also dropped in recent weeks as investors shifted toward risk-averse strategies and reduced inflows into Bitcoin ETFs.
ETFs bundle assets like stocks, bonds, commodities, or Bitcoin into a single tradable product for investors.
Investors sell ETF shares when one or more underlying assets fall, dragging the total ETF price down.
Global uncertainty and fading investor confidence pushed Bitcoin lower as traders sold riskier holdings.
Weaker economic signals and reduced expectations of early central bank rate cuts amplified the sell-off.
Experts also link the slump to aggressive trading tactics by professional investors.
Crypto Mirrors Tech Volatility
Many expected Bitcoin to behave like digital gold, offering safe-haven protection during market turbulence.
Instead, Bitcoin now mirrors tech-related stocks, showing sharp gains and steep drops.
Nvidia, a leading GPU manufacturer, rose strongly this year but also faced similar sudden declines.
The volatility highlights Bitcoin’s unpredictable nature and confirms it performs like other high-risk, tech-adjacent assets.
