Crypto ‘mega crash’ wipes out over $1tn as Bitcoin slumps 30% from peak

Bitcoin dropped to $89,426 on November 18, down over 30% from its October peak of $126,000. Global cryptocurrency market lost over $1 trillion in value in six weeks amid tech bubble concerns and fading US rate cut expectations. Institutional buyers remain strong, with Strategy purchasing 8,178 Bitcoin worth $835 million.