Cryptocurrencies suffer big declines as cryptocurrency selling resumes

The resumption of the sales of cryptocurrencies has not brought respite to its main tokens. Bitcoin, Ethereum and Solana began December by deepening the losses they had been dragging since last month.

At the opening of the European stock exchanges, the three digital currencies were leading losses of more than 5%. Thus, at 7.30 a.m. London time, Bitcoin plummeted to $86,273.68, a drop of around 5.5%.

Heavier were the losses for Ethereum, which lost more than 6.5 % in early trading, to 2.831.95 dollars, or Solana, which tumbled nearly 8% and was trading at 126.75 dollars. Other smaller tokens were hit even harder, including Dogecoin, which sank 8.4 percent.

Fall in Asia

The plunge after the European opening was preceded by a fall in the value of companies related to digital assets in the Asian markets. Something in which the People's Bank of China has much to do after a statement on Saturday warning about illegal activities related to digital currencies.

The drop in digital assets, however, comes against a context of widespread fear in the markets, both in the face of an abrupt pricking of the AI bubble and the Fed's final interest rate decision. This translates into a "risk aversion," according to analysts, which is becoming evident at the beginning of the last month of the year and is reflected in the volatility that has characterized the stock markets in recent weeks.