Bitcoin slides to fresh seven-month low of $86,000, market capitalisation hits $1.71 trillion — what’s behind the drop?
Bitcoin, the largest cryptocurrency, fell to its lowest level since April on Friday, November 21, reaching a new low of $86,000 amid macroeconomic uncertainty following US jobs data that indicated higher-than-expected unemployment.
Bitcoin prices dropped 7.18% to $85,966.75 at 11:30 am on Friday, November 21, according to CoinMarketCap data. The crypto token’s market capitalisation stood at $1.71 trillion. Its trading volume in the last 24 hours was $94 billion. Meanwhile, Ether, the second-largest token, also declined on Thursday, falling 7.92% to $,2797.50.
