Bitcoin Heading for Worst Month Since Crypto Collapse of 2022 | Bitcoin Slips Below $84,000 As Cr…

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Bitcoin Heading for Worst Month Since Crypto Collapse of 2022

(Bloomberg) — Bitcoin is on track for its worst monthly performance since a string of corporate collapses rocked the wider crypto sector in 2022.

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The largest cryptocurrency slid as much as 6.4% to $81,629 on Friday before paring losses, according to data compiled by Bloomberg. It was trading at $84,166 at 7:42 a.m. in London. Ether fell as much as 7.6% to below $2,700.

Bitcoin has now shed about 23% of its value in November, the most in a single month since June 2022, according to data compiled by Bloomberg. The implosion of Do Kwon’s TerraUSD stablecoin project in May of that year sparked a daisy chain of corporate failures that culminated in the downfall of Sam Bankman-Fried’s FTX exchange.

Bitcoin Slips Below $84,000 As Crypto Slump Continues

Bitcoin early on Friday dropped below $84,000 for the first time since mid-April, as the world’s most valuable cryptocurrency continued to be hit by a selloff that has tanked its price by more than 22% in the past month.

Bitcoin’s price dropped to $83,730.70 early on Friday, having fallen more than 9% in the past 24 hours.

As a result of the nearly month-long selloff, Bitcoin’s price is 10% below what it was at the start of the year, as it has wiped out a majority of the gains it made since President Donald Trump’s election win last year.

Bitcoin last slipped below $84,000 in April—dropping as low as $75,000—amid a broader market selloff triggered by the sweeping tariffs announced by Trump at his so-called “Liberation Day” event.

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