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Bitcoin Plunges Over 30% from All-Time High Amid Crypto Downturn
17 Nov
Summary
- Bitcoin has lost over 30% of its gains for the year
- Excitement around pro-crypto Trump administration fading
- Recent cooling of AI stocks signals broader risk-off mood
In the past month, Bitcoin has experienced a significant downturn, wiping out over 30% of its gains for the year. This comes just a little over a month after the cryptocurrency hit an all-time high. The primary driver behind this decline appears to be the fading excitement around the pro-crypto stance of the Trump administration.
Additionally, the recent cooling of AI stocks has signaled a broader risk-off mood in the market, which has also impacted the cryptocurrency space. Revo Digital Family Office CIO Zann Kwan and CertiK Head of Capital Markets Esme Pau have shared their insights on the current crypto outlook and the factors behind Bitcoin's crash.
As the cryptocurrency market navigates this turbulent period, experts are closely watching for any signs of a potential recovery or further declines in the coming weeks and months. The future of cryptocurrencies remains uncertain, with investors and analysts closely monitoring the evolving landscape.
