Why Is Crypto Going Down? Bitcoin Tests $80,000 as Ethereum, XRP and Dogecoin Sink to August Lows

Crypto prices kept sliding today (Monday), with Bitcoin (BTC) at $79,979 on Binance at 08:22 UTC, about 6% below last Wednesday's high of $84,898. Ether, XRP and Dogecoin fell to their lowest prices since August. The selloff started on Thursday, when worries about how artificial intelligence spending will be funded hit technology stocks. The Nasdaq Composite fell 2.6%, its worst session since June, and Meta Platforms lost about 7%.London's trading industry is coming home! On my daily charts, bitcoin and ether have both broken the supports that held them for most of October, and Dogecoin has lost its own. XRP is the last of the four still sitting on support. Why Is Crypto Going Down This Week?

First reported by Finance Magnates. This page is a short excerpt; the full text is theirs.