Crypto market plunges as Bitcoin falls below $97,000
When Bitcoin dipped under $100,000 early last week, some in the crypto world thought it couldn’t get any worse. It did. As of Friday mid-day, Bitcoin was trading at below $97,000 for the first time since May and is down about 22% since its all-time high of about $126,000 just last month.
Ethereum and Solana, two other major cryptocurrencies known as altcoins, have also sputtered. The former is down about 3% in the last week to about $3,236, and the latter is down about 12% to just under $142 during that time.
The crypto market’s dip comes amid sentiment that a December rate cut from the Federal Reserve is growing less likely. Lower interest rates are typically a spur for crypto speculation.
The crypto sector has…
