According to Bijié Wǎng, Bitcoin lost nearly a quarter of its value in November, with the crypto market losing over $1 trillion in total value. Large Bitcoin holders reduced their holdings in the weeks before the drop, while retail investors also cut positions, further reducing buyer support. The price fell from over $126,000 in October to a low of around $81,000, with a partial rebound to $87,000. Futures liquidations exacerbated the decline, triggering a 13-day wave of long-position liquidations. A recent rebound to $87,500 has raised hopes of a local bottom, but continued selling by large holders remains a key risk. Market observers say a true reversal will depend on whether whale investors stop selling.
Bitcoin Faces Further Downside Risk After Sharp November Drop
币界网Share
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.