Bitcoin falls below $86,000 amid investor reluctance

Cryptocurrencies saw a sharp decline on Monday, reviving a widespread sell-off that appeared to have subsided in previous days.

Bitcoin fell as much as 6% to below $86,000 during early Asian trading, while Ether dropped more than 7% to below $2,800, and Solana recorded a 7.8% decline.

This decline comes after a weeks-long sell-off that began when nearly $19 billion in debt-funded bets were liquidated in early October, days after Bitcoin hit a record high of $126,251.

The easing of selling pressure last week allowed the cryptocurrency to recover some of its gains, rising above $90,000 before falling back again.

Shafaq.com