The"Bitcoin" It drops to $107,000
The prices of digital currencies fell collectively, during Monday’s trading, as Bitcoin fell to $107,000, with continued economic pressures and fears of a slowdown in global economic growth.
The “Coin Market Cap” platform indicated: Until "Bitcoin" It decreased by 2.79% to reach $107,500.5, with a market value estimated at about $2.14 trillion.
On the other hand, the “Ethereum” currency recorded It declined by 3.87% in the last 24 hours, bringing its price to $3,711.27, with a market value estimated at approximately $447.94 billion. Ripple (XRP) also recorded a decline of 4.73% during the same period, bringing its price to $2.40, with a market value estimated at approximately $144.31 billion.
And during the month of October, “Bitcoin” incurred A loss of about 5%, which is its first monthly loss in October, which was considered a bullish month for cryptocurrencies since 2018, as the markets were affected by global economic pressures and increasing monetary tightening by the US Federal Reserve.
According to Coinglass data, prices on the “Coinbase” platform showed (which is considered one of the largest cryptocurrency trading platforms in the United States) turned the difference between Bitcoin prices on the platform and the global market average, to negative in late October. The world.
This shift in the negative Coinbase premium coincided with the shift of cryptocurrency ETF flows in the United States to negative, which reinforces market fears of a continued decline in demand and increased selling pressure on Bitcoin and other cryptocurrencies.
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