"The big crypto price declines in November followed an "Uptober"-crypto speak for a bullish October-that never came. Bitcoin is down about 22% in the last month to its current price of roughly $90,000. During that time Ethereum is down around 27% to its current price of roughly $3,017, and Solana is down around 28% to its current price of $144."
"For much of November, the slide in cryptocurrency coincided with uncertainty about a Federal Reserve rate cut in December and also with fading tech stocks as investors seem to brace for an AI bubble. "The first three weeks of November have been down-only for BTC, with digital assets dragged lower by the broader equity-market correction as risk-off rotation set in," said Jasper De Maere, desk strategist at Wintermute."
Bitcoin fell about 22% in November to roughly $90,000, Ethereum fell about 27% to roughly $3,017, and Solana declined about 28% to roughly $144. The declines followed a failed 'Uptober' rally and erased much of recent gains; Bitcoin is down roughly 29% from its peak near $126,000 two months earlier. The slide coincided with uncertainty over a December Federal Reserve rate cut and cooling tech stocks amid AI bubble concerns. Market strategist Jasper De Maere said the early-November weakness was driven by a hawkish Fed pivot and renewed AI growth fears despite strong Nvidia earnings. Bitcoin has since recovered about 11% from a low near $81,000.
Read at Fortune
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