The cryptocurrency market has lost more than $1 trillion in value over the past six weeks due to worries about a potential tech bubble and diminishing hopes for a US interest rate cut next month. Bitcoin prices have dropped to their lowest since April, while the FTSE 100 also declined, influenced by cautionary remarks from Google’s CEO about irrational exuberance in the AI sector. According to CoinGecko data tracking over 18,500 cryptocurrencies, the market has shrunk by 25% since early October.
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