- Bitcoin dropped 11.92% to $51,205.80, hitting a five-month low due to growing fears of a U.S. economic slowdown.
Bitcoin price fell significantly on Monday to $51,205.80, down 11.92% and reaching a five-month low. This drop reflects a broader decline in financial markets, driven by increasing concerns over a potential U.S. economic slowdown.
This sharp decline aligns with steep losses in equity markets and increased investor caution. Despite predictions of Federal Reserve rate cuts, Bitcoin’s price continued to fall, exacerbated by reduced trading volumes in crypto derivatives and uncertainty surrounding U.S. regulations.
The wider crypto market also suffered, with Ether dropping to its December lows and significant liquidations affecting various tokens. The crypto fear and greed index now shows extreme fear, reflecting the lowest market sentiment since early July.