Bitcoin price slides below $85,000 in risk-off start to December

Cryptocurrencies fell sharply on Monday, bringing fresh momentum to a wide-ranging selloff that appeared to have settled.

Bitcoin price slid as much as 7% to below $85,000 in early New York trading, before paring the decline. Ether dropped around 7% to below $2,800, according to data compiled by Bloomberg. Most tokens followed a similar pattern, with Solana falling around 8%.