Bitcoin plunges below $90,000 — ether tanks to October lows

Cryptocurrencies bitcoin and ether dropped to multi-month lows on Tuesday, caught up in a general cross-market sell-off, and as traders continued to process last week’s hack of $1.5 billion worth of ether from cryptoexchange Bybit.

The cryptocurrency market tumbled on with Bitcoin and Ether hitting multi-month lows, as a broader cross-market sell-off and concerns over last week’s $1.5 billion Bybit hack continued to weigh on investor sentiment.

Bitcoin and Ether slide to multi-month lows

Bitcoin, the world’s largest cryptocurrency by market value, dropped as much as 6%, falling to $88,245, its lowest level since November and the first time it has slipped below $90,000 since mid-January.

Ether, the second-largest cryptocurrency, saw an even sharper decline, plunging as much as 11% to $2,333, marking its lowest price since October.

Altcoins struggle as weak sentiment and scandals mount

Alongside Bitcoin and Ether, major altcoins such as Solana and Dogecoin also faced heavy losses. Solana dropped 15%, while Dogecoin declined 13%, reflecting a broader risk-off sentiment in the digital asset market.