According to DL News, Bitcoin dropped below $86,000 on Monday, with analysts warning of further declines. The 7% overnight fall wiped out recent gains, and factors like liquidity stress and market volatility are seen as obstacles to a recovery. Analysts David Brickell and Chris Mills of the London Crypto Club expect choppy markets to continue into year-end. Mike McGlone of Bloomberg Intelligence reiterated his $50,000 price target, citing pressures from gold, stock volatility, and crypto competition. BitMEX co-founder Arthur Hayes also warned of increased volatility and a potential drop to $80,000. Coinglass data shows $545 million in long positions liquidated in 12 hours, highlighting the market's instability. US spot Bitcoin ETFs saw $3.5 billion in outflows in November, the worst since February. The broader market, including the S&P 500 and Nasdaq, has shown strong gains, while the Federal Reserve is expected to consider a 0.25% rate cut in December, with an 88% probability according to the CME FedWatch tool.
Bitcoin Falls Below $86,000 as Analysts Warn of Further Price Decline
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