Bitcoin experienced a significant decline late on Monday, slipping below the $90,000 mark for the first time since April. The leading cryptocurrency has been caught in a persistent selloff that has seen its value plummet by 16% over the past month, raising concerns among traders who speculate it could fall to $80,000.
During the late hours on Monday, Bitcoin’s price dipped to as low as $89,426, reflecting a drop of more than 5.3% in a single day. This downward trend not only wiped out Bitcoin’s gains since the start of 2025 but also marked a critical point for the digital currency. The last time Bitcoin fell below $90,000 was in April when it dropped just under $75,000 following a series of tariffs announced during an event known as “Liberation Day.”
The ongoing downturn in Bitcoin’s price is attributed to broader economic uncertainties. Key among these is the speculation around the Federal Reserve’s interest rate strategy, particularly concerns that additional cuts may not be forthcoming as anticipated in December.
Bitcoin’s decline has not only affected its own value but has also had a ripple effect on other major cryptocurrencies. Ether, the second most valuable cryptocurrency by market capitalization, fell below $3,000, witnessing a 5.6% drop in the past 24 hours. Additionally, other notable cryptocurrencies such as XRP, Binance’s BNB, and Solana’s SOL experienced declines of 3.9%, 3%, and 3.2%, respectively. Even Dogecoin, the leading memecoin in the market, faced a reduction of over 3.8% in the same timeframe.
This current bear market trend underscores the fragility of the cryptocurrency landscape amid ongoing economic concerns and market volatility.
