The price of Bitcoin fell back to its lowest level since April this year on Monday.
The world’s largest cryptocurrency seemed to be holding above $91,000 in recent days, but fell back below $86,000 on the first day of December.
Bitcoin has come under significant pressure since reaching a record high of over $126,000 in October. This price drop coincided with a sell-off in other risky assets due to concerns about the high valuations of AI companies.
This led to a decline in overall risk appetite among investors.
Bitcoin’s price fell 6 percent in Asian trading Monday morning, falling below $86,000, its lowest level since April. That month, it reached its lowest level this year at around $74,400. This was due to concerns about President Donald Trump’s global trade war.
