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Bitcoin's seemingly unstoppable charge towards $100,000 was abruptly brought to a halt, as the cryptocurrency tumbled Monday.

Author

Stephen Graves
November 26, 2024

📝 What you need to know

Bitcoin’s charge towards $100,000 stumbled Monday, as the cryptocurrency tumbled to lows of under $92,000. The ripple effects saw the wider crypto market shed billions of dollars in value, with Dogecoin and Cardano leading the losses.

Still, it’s not all bad news, considering that a month ago Bitcoin was trading at around $67,000. Analysts argued that the “extremely overbought” market was due a correction, as traders await two key macro indicators this week in the form of the Fed’s minutes for its November meeting, and the PCE data drop.

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