Bitcoin’s Value Declines Amid Institutional Withdrawals and Economic Uncertainty

Bitcoin has recently witnessed a sharp decline in value, prompting questions about investor confidence. The leading cryptocurrency dropped over 20% in the past month alone, falling more than 40% from its peak above $126,000 earlier this October. November marked Bitcoin’s worst performance since June 2022, a period also characterized by a crypto market crisis. The price dipped to around $80,000, the lowest point in seven months. 2.2 billion in ETF withdrawals from iShares Bitcoin Trust ETF likely fueled this decline, and analysts suggest this triggered rapid technical support breaches, amplifying market stress.