Crypto Market Overview: Understanding the Drop on Nov. 3
Market Overview
The overall crypto market is experiencing a notable decline as of Nov. 3. Bitcoin (BTC) currently trades at $107,236, reflecting a drop of 3.18% over the last 24 hours.
Weekly and Monthly Performance
Over the past week, BTC has fluctuated between $106,786 and $115,957. This fluctuation marks a significant 6.98% loss weekly and a concerning 12.38% decline over the month. BTC is now approximately 14% below its all-time high of $126,080 from Oct. 8.
Increased Trading Activity
Despite the price drop, trading activity within the market has accelerated. Bitcoin's 24-hour spot volume reached an impressive $43.88 billion, indicating nearly a 50% increase compared to the previous day.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.