On the Binance exchange, the largest cryptocurrency exchange in terms of trading volume, as of 10:09 GMT, Bitcoin was trading down 10.35% at $59,100. According to the CoinMarketCap portal, which calculates the average price for more than 20 exchanges, Bitcoin price fell by 10.04% to $59,200.

The price of the cryptocurrency dropped below $60,000 for the first time since October 28. Since the beginning of the week, Bitcoin has lost more than 7% of its value, after reaching a new all-time high of $69,000 last week.

Since the beginning of November, Bitcoin has lost more than 2% in total. At the same time, last month the cryptocurrency jumped 40% in value, marking the strongest monthly gain since December 2020.