Bitcoin tumbled more โขthan 5%โฃ on Monday, briefly falling below $90,000 as a wave of risk aversion swept through global markets.โ The โฃworld’s largest โฃcryptocurrency shed value alongside โคother speculative assets, signaling aโ pullback โafter โคaโ period of sustained โgains.Theโ decline comes amid increased investor caution fueled by geopolitical uncertainty andโค concerns โabout potential interest rate hikes.Bitcoin, frequently enough touted โฃas a โhedge against inflation,โ has recently traded in tandem with riskier assets like technology stocks, suggesting itsโข role as a safeโ haven is being questioned. The dip impacts a broad โฃrange of investors,from โinstitutional funds to retail traders,and raises questions aboutโข the sustainability of its recent rally. Analysts are now watching to see if this marks a short-term correction โขor the โbeginning of a more meaningful downturn.
As of 2:30 PM EST, Bitcoinโ was trading around $90,300, according to dataโข from CoinGecko. The cryptocurrency โhadโค reached โขa record โฃhigh near $72,000 in March, driven by increased โadoption and the launch โof spot โBitcoin exchange-tradedโข funds (etfs) in the Unitedโ States.the recent sell-off mirrors broader market trends, with global โstocks โคalso experiencing losses. investors are reassessing their portfoliosโฃ considering rising bond yields โand the possibility that central banks may delay cutting interest rates.The volatility โคunderscores the inherent risks associated with investing in cryptocurrencies, which remain subject to โฃsignificant price swings.
