At 6:00 a.m. Lisbon time, Bitcoin saw a 2.41% decline, reaching $89,901.94 (€77,536), according to financial news data. Earlier, at around 4:47 a.m., the cryptocurrency had dropped to $89,231.50 (€76,958).
Over the past month, Bitcoin has suffered a decrease of approximately 20%, following an all-time high of $126,251 (€108,883) on October 6.
Simon Peters, a cryptocurrency analyst at eToro, explained, “The loss of investor confidence in further interest rate cuts by the U.S. Federal Reserve is weakening Bitcoin’s price.”
“The probability of a 25 basis points cut in December’s meeting is now below 50%, highlighting the market’s continued risk aversion,” the analyst added.
