Bitcoin and Ethereum both plunged to their lowest levels in months on Tuesday.

The sharp declines come amid a broader sell-off across financial markets, compounded by lingering fallout from last week’s high-profile hack of the crypto exchange Bybit, where hackers made off with a staggering $1.5 billion worth of ETH.

The incident has rattled traders, adding fuel to an already volatile market.

Bitcoin, the leading cryptocurrency by market capitalization, saw its price tumble by as much as 6% during the trading session, dipping to $88,245. It has since recovered to just over $91,00

READ MORE: Bybit recovers $1.4B in Ether after huge Lazarus hack, CEO confirms

This marks the first time it has breached the $90,000 threshold since mid-January and its lowest point since November. The drop follows a period of relative stability for the digital asset, which had been hovering near record highs in recent weeks, making this sudden decline all the more striking.

Ether, the second-largest cryptocurrency, suffered an even steeper fall, shedding up to 11% of its value at one point and hitting a low of $2,333—its weakest level since October. It also recovered slightly to get back around $2,400.

The dramatic slide reflects not only the broader market unease but also intensified pressure on ether following the Bybit breach, given that the stolen funds were predominantly in its native token.

The hack has raised fresh concerns about security in the crypto ecosystem, potentially shaking confidence among investors and prompting some to offload their holdings.

Analysts suggest that Tuesday’s downturn could stem from a mix of factors: profit-taking after a strong run for cryptocurrencies, jitters from the Bybit incident, and a cascading effect from traditional markets, where stocks and other risk assets also faced selling pressure.

‍