Why Bitcoin Is Falling: 3 Reasons the Top Crypto Is Deeper in a Bear Market
It’s been a tough month for bitcoin investors.
The OG cryptocurrency officially entered a bear market at the beginning of this month, with the token’s price down 22% since reaching a peak of around $126,000 in early October.
After being up as much as 35% year-to-date, the latest tumble has whittled that gain down to less than 4% on Friday.
The sell-off accelerated this week. Bitcoin dropped as low as $94,700 on Friday, the lowest the crypto has traded in about six months.
Here’s what’s driving the sell-off:
Tech tumble
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