Bitcoin (BTC) is experiencing a downward trend as pressure from seasonal factors intensifies into December, extending the market decline witnessed throughout November. Analysts point to historical trends suggesting seasonality plays a significant role in Bitcoin’s performance, especially during the latter part of the year. This pattern coincides with previous Q4 weakness phases that often result in re-accumulation. 2023 is showing signs of this cyclical behavior as Bitcoin approaches its critical support range after experiencing a sharp decline in recent months. The downtrend has been characterized by a declining trend of lower highs and lows following an October peak above $112,400. A notable drop in November saw sellers gaining momentum as each rebound attempt was met with increased resistance. ETF outflows, coupled with leveraged trading, contributed to the rapid expansion of selling activity during this period.