Bitcoin falls to four-month low near $62K as crypto selloff deepens
Written by Ezra Reguerrastaff writerEdited by Yohan Yunstaff editorThe global cryptocurrency market capitalization fell 4% to $2.26 trillion over 24 hours, while Ether and Solana posted double-digit weekly losses.
Bitcoin fell to a four-month low near $62,000 on Sunday, extending a selloff across major digital assets before recovering some of its losses.
On Sunday, Bitcoin (BTC) dropped to a 24-hour low of $62,080.91, according to CoinGecko, its weakest level since July. The asset later rebounded above $65,000 but remained down nearly 15% in the last seven days.
The downturn extended beyond Bitcoin. CoinGecko data showed Ether (ETH) down 19.5% over the past week, while Solana (SOL) lost 20.7%. The total value of the cryptocurrency market fell about 4% over 24 hours to $2.26 trillion, according to CoinGecko.
Market sentiment also deteriorated. The Crypto Fear & Greed Index fell to 10 on Sunday from 13 on Saturday and 20 on Friday, remaining in “extreme fear,” according to Alternative.me.
The move followed Friday’s slide below $70,000, as analysts reported weakening investor sentiment and concerns over institutional outflows and tighter liquidity.
The latest decline came after US spot Bitcoin exchange-traded funds posted $2.35 billion in net outflows over two consecutive weeks. The funds lost $1.07 billion during the week ended Nov. 13, following $1.28 billion the previous week. BlackRock’s iShares Bitcoin Trust extended its outflow streak to 11 trading sessions on Friday.
Related: Bitcoin returns to 200-week trend line as analyst sees risk of $57.7K next
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