Bitcoin’s price was down this month nearly 20% as markets worry about lower interest rates and a possible financial bubble in the AI industry.
November was a rocky month for crypto markets. Bitcoin’s price is down over 20%, shedding almost $2 trillion in market capitalization.
Concerns over possible rate cuts at the US Federal Reserve and the potential for an imminent AI bubble burst have brought anxiety to crypto and stock markets. Bearish sentiment prevails after Bitcoin showed a “death cross” when the 50-day simple moving average crossed below the 200-day equivalent on Nov. 15.
According to data from Trading Economics, global inflation slowed in November among major world economies. Seventeen members of the G20 experienced lower inflation on the month, part of a growing global trend.
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