Massive Crypto Sell-Off: $120B Lost as Bitcoin Tumbles

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Bitcoin starts November on the same foot as it ended October, with another price slide that drove it to just under $107,000 earlier today.

The altcoins have followed suit, with notable price drops from the likes of BNB, SOL, DOGE, LINK, ADA, and many others.

BTC Slides to $107K
The previous business week was quite eventful and volatile for the cryptocurrency markets, prompted by external developments. For instance, BTC jumped to $116,000 on a couple of occasions on Monday and Tuesday, only to be stopped and rejected at its second attempt.

The subsequent denial led to an immediate decline to $112,000 when otherwise bullish news came from the US Federal Reserve. Despite the rate cut by 25 bps, BTC headed south again, dropping below $106,000 on Thursday. The US-China deal on the trade war front brought another relief rally when bitcoin jumped past $111,000.


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