Bitcoin, the flagship cryptocurrency, plunged under the $100,000 degree earlier at present for the primary time since June 22.
It reached an intraday low of $99,941 on the OKX trade earlier than paring some losses. At press time, it’s buying and selling at $101,299.
The highest coin has now formally entered correction territory, plunging by greater than 22% from its report peak that was achieved earlier this month.
The chances of Bitcoin collapsing all the best way to $90,000 this yr have now reached 51% on betting web site Polymarket. For comparability, there was solely an 11% probability of Bitcoin hitting that degree only a month in the past. This exhibits how shortly sentiment adjustments.
Bitcoin’s most up-to-date crash has been triggered by a latest sell-off in US equities as a consequence of rising synthetic intelligence (AI) bubble fears.
The main cryptocurrency is now up simply by a mere 8% this yr, considerably underperforming gold.
Ethereum turns detrimental for 2025
In the meantime, Ethereum has now turned detrimental for the yr, plunging under $3,300. The altcoin is now down by as a lot as 34% from its report peak.