Cryptocurrency Price: Bitcoin prices fall sharply, price slips by Rs 1.25 lakh; is it time to buy?

News Topical, Digital Desk : The prices of various cryptocurrencies are falling sharply, triggering a fresh wave of widespread selling. Bitcoin (Bitcoin Price Today) fell 4.3% to below $88,000 in early trading in Asia, while Ether (Ether Price Today) fell 6% to below $2,900.
In Indian currency, the rate of Bitcoin fell to Rs 77,28,269.88 in the morning, a decline of more than Rs 1.25 lakh in the last 24 hours.

Why did the decline occur?

The crypto market is experiencing volatility after a weeks-long sell-off that began when approximately $19 billion in leveraged bets were liquidated in early October. This event occurred just days after Bitcoin reached an all-time high of $126,251.
The world's largest cryptocurrency regained its gains last week after selling pressure eased, reaching above $90,000. Following Monday's sell-off, a significant decline is expected.

 This factor will be important

The coming week will offer a crucial glimpse into US economic growth as policymakers consider the direction of interest rates in 2026. The data could shape expectations about whether the Federal Reserve will continue its rate-cutting cycle.
Meanwhile, US President Donald Trump said on Sunday that he has finalized his choice for the next Fed chair. He expects his nominee to cut interest rates

What is the support price ?

Meanwhile, crypto market experts believe the beginning of December is fraught with risk. Their biggest concerns are the low inflows into Bitcoin exchange-traded funds and the lack of dip buyers. Structural issues are expected to persist this month. The $80,000 level is considered the next key support level for Bitcoin.

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