Bitcoin slides gain as investors lose appetite for crypto
Bitcoin fell sharply on Monday, dipping below €75,000 per coin as the broader cryptocurrency market extended a steep decline that began after its record October peak.
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00:00Popular cryptocurrencies are continuing to struggle as Bitcoin opened the month of December with a 5% drop in value in European trading.
00:10The coin currently hovers around 73,500 euros in value, a sharp decline from its estimated value only 24 hours prior, which was just short of 78,000 euros.
00:22The digital currency had been in a prolonged and steep decline since reaching its record value of about 110,000 euros in October.
00:31The decline is likely attributed to a significant rise in liquidations and sell-offs as holders of the coin look to profit off of their investments.
00:40Ethereum, the second largest crypto by market cap, also experienced similar trajectories since its all-time high in November of this year.
00:49Other smaller yet well-known and highly traded coins, including Solana, are also continuing their downwards trend.
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