Bitcoin’s value continued to plummet in early December, dropping as low as $85,400. Since hitting a record high of $126,000 in late October, the digital asset has lost nearly one-third of its value. Traders are concerned about a volatile market outlook, with recent VIX scores reflecting increased market volatility. Economic data releases in the U.S. this week could impact the Federal Reserve’s upcoming meeting on Dec. 10. S&P Global Ratings downgraded USDT’s stability assessment, citing potential collateral issues if Bitcoin’s value continues to fall. Ethereum and Solana also experienced significant declines on Monday.

Read more at Yahoo Finance: Bitcoin price plunges toward $85,000 as traders brace for a big week