Bitcoin $BTC
and the broader crypto market are down today amid ongoing risk-off sentiment from a multi-week selloff that began in late November. BTC has slid as much as 4.3% to below $88,000 in early trading, extending losses from a peak near $126,000 in October, while $ETH
dropped around 6% to below $2,900.
Key Reasons for the DeclineContinued Bear Market Momentum: BTC entered a bear phase after crashing 25% in November, the steepest monthly drop since 2022, triggered by US President Trump's announcement of potential 100% tariffs on China, leading to massive liquidations and over $1 trillion wiped from the crypto market.
Risk Aversion and Tech Slump Spillover: Investors are pulling back from speculative assets due to stretched tech valuations, fading US rate cut hopes, and volatility in AI stocks, with BTC and ETH hitting multi-month lows.
Macro Pressures: Federal Reserve's quantitative tightening (ending December 1), hawkish policy, delays in crypto regulations like the CLARITY Act, reduced institutional interest, and profit-taking by long-term holders are weighing on prices
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