Bitcoin and Ethereum drop due to unrest in China, concerns about crypto contagion
Along with global stocks, the price of Bitcoin, Ethereum, and other digital assets fell on November 28 as investors dumped risky assets reportedly alarmed by unrest in China related to the anti-lockdown protests. According to CoinGecko, the largest digital asset was trading for $ 16,081 at the time of writing, a 3 percent 24-hour decline. The sell-off in Ethereum was more severe, down about 5 percent in price, at $ 1,158. According to on-chain expert Lookonchain, the significant decline in the value of the second-largest digital asset may be caused by a whale sending 73,224 Ethereum, valued at $ 85.7 million, to the cryptocurrency exchange Binance on November 28. This year, Bitcoin has generally followed the US stock market: when traders switch equities, the price of cryptocurrency declines as well. Read full here
