[Bitcoin Now] Bitcoin Falls Below $100,000 Again

The price of Bitcoin has fallen back below $100,000, hitting its lowest level in six months.

According to CoinMarketCap, a global virtual asset market tracking platform, as of 7:20 a.m. on November 14, the price of Bitcoin was $99,185, down 2.35% from 24 hours earlier. Compared to its yearly high of $126,198 on October 7, it has dropped by more than 20%. This is also the lowest level since May 8.

The same trend is seen among altcoins (virtual assets excluding Bitcoin). The leading altcoin, Ethereum, fell 5.87% compared to 24 hours ago. Other major cryptocurrencies by market capitalization, such as Solana (-6.41%), Ripple (XRP) (-2.79%), BNB (-3.61%), and Dogecoin (-4.53%), also showed weak performance.

This decline is attributed to the sharp drop in the U.S. stock market. On November 13 (local time), the Dow Jones Industrial Average, which focuses on blue-chip stocks, closed at 47,457.22, down 797.6 points (1.65%) from the previous trading day. The S&P 500, which tracks large-cap stocks, fell by 113.43 points (1.66%) to 6,737.49, while the tech-heavy Nasdaq plunged 536.102 points (2.29%) to 22,870.355.

Additionally, reduced expectations for interest rate cuts have also affected investor sentiment. Federal Reserve officials expressed skepticism about the possibility of an additional rate cut in December. According to CME FedWatch, the market currently reflects a 48.4% probability that the Federal Reserve will keep the current rate of 3.5-3.75% unchanged in December, and a 51.6% probability of a 0.25 percentage point cut.