Bitcoin and Ethereum fell to three-month lows Thursday, deepening a cryptocurrency selloff that has erased $550 billion in market value since October.
Bitcoin slumped to $71,317, its lowest level since August, while Ethereum briefly fell below $2,000 to touch $1,983. The declines have pushed the broader crypto market’s valuation from approximately $2.94 trillion in early October to $2.39 trillion.
The downturn has coincided with a sharp deterioration in market sentiment. CryptoQuant’s Analyst Consensus Index fell from -1.0 to -1.8 standard deviations over seven days, signaling increasingly bearish expectations as investors grapple with persistent selling pressure and uncertainty over the market’s next direction.
