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Bitcoin drops 5% below $90,000; bearish factors rack up
Bitcoin fell below $90,000 on Monday, as a selloff gathered pace following the steepest monthly decline since mid 2021, as renewed risk aversion drove investors out of stocks and digital assets. The world’s largest cryptocurrency BTC= fell by as much as 6.1% at one point. By 1120 GMT, it was down 5.2% at $86,461, set for its biggest one-day fall in a month and hovering near last month’s eight-month low of $80,553. Bitcoin shed more than $18,000 in November, as a record amount of money rushed out of the market, making this its largest dollar loss since May 2021, when a number of cryptocurrencies collapsed. Given ... (full story)