Bitcoin (BTC), the top cryptocurrency, has turned red on the monthly chart, wiping out its November gains.The cryptocurrency slipped to an intraday low of $60,350 at 4:23 a.m. UTC on the Bitstamp exchange, plunging 5% within four hours.
This is the lowest level the cryptocurrency has seen since Nov. 6.
Ether (ETH) saw a steeper correction than Bitcoin, dropping to $4,249 earlier today.
The two largest cryptocurrencies are both down 10.8% from their recent record highs at the time of writing.
According to data provided by Coinglass, $287.84 million worth of longs has been liquidated in four hours.
Litecoin (LTC) and Chainlink (LINK) are down more than 10% over the past 24 hours, becoming the top laggards amid major altcoins.