Crypto Price Today: The cryptocurrency market has been experiencing a steady decline over the past few days. Bitcoin, the world’s oldest and largest cryptocurrency, is also slipping. Bitcoin was seen trading in the red on Thursday, November 20th.
Bitcoin fell to $92,000 in early trading. This decline has caused investors to suffer significant losses. Since October, investors have lost over $1 trillion. Let’s explore the reasons for this decline and how crypto prices are today.
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Why is the decline occurring?
Failing expectations of an interest rate cut by the US government have led investors to refrain from investing in crypto. Furthermore, persistent selling is also contributing to this decline. For the past five days, there have been continuous withdrawals from spot Bitcoin ETFs, further increasing market pressure.
Bitcoin prices have reached a seven-month low. On November 18th, it traded below $90,000. This situation has reduced participation from small investors, although large investors remain confident in the market.
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Today’s Crypto Price
According to the crypto price tracking website, Bitcoin was trading at $92,577.82 on Thursday, November 20th, a decline of 14.16% in one month. Ethereum was at $3,035.42, a decline of approximately 21.44%. Solana was also trading at $143.71.
