Name: Bitcoins slump continues, falling towards $86,000
Uploaded: 2025-12-01T10:14:52.342Z
Duration: 3 min 35 s
Description: Bitcoin slumps to start December - continuing a weeks-long selloff that saw the cryptocurrency shed more than 15% of its value last month.

Bitcoin slumps to start December - continuing a weeks-long selloff that saw the cryptocurrency shed more than 15% of its value last month.

Saint Kitts

Bitcoin experienced a significant decline, falling by 5.6% to approach $86,000, with major financial news outlets unable to provide a definitive reason for the drop. This decline highlights the ongoing unpredictability and valuation challenges within the cryptocurrency market, as experts debate its role as an investment and its correlation with other asset classes.

Meanwhile, global equity markets have seen increased volatility, with European indices such as the CAC 40 and DAX expected to open lower and U.S. markets recently rallying during a holiday-shortened week. Despite these gains, questions remain about market fundamentals, including AI spending, consumer strength, and potential Federal Reserve rate cuts.

Bitcoin's slump continues, falling towards $86,000

The markets rallied hell for leather last week on the back of what? What were they falling aggressively for the previous couple of weeks? And what were they rallying really hard for there? And the fact of the matter is, nothing has changed. Nothing has changed. We still have the same questions about AI spend. We still have the same questions about the strength of the US consumer. We still have the same questions about whether markets are broadly overvalued, about whether the Fed is going to cut, which apparently is 87.4% certain that we will on the 9th and 10th of December as well. Nothing changed, apart from sentiment and momentum. And they are powerful forces. When I was looking back this morning at what happened last week, I had to double-check that US markets had in fact rallied as much as I was seeing. I said, is that really true? Did that really happen? One thing obviously we have to bear in mind is that it was a holiday-shortened week in the US. Liquidity much lower than usual with Thanksgiving on Thursday and then the shortened trading day on Friday. So I would just argue that it's a little premature to read too much into the rally and we'll have to see what happens over the next couple of weeks. By the same logic, it would have only taken a small event, if we're suffering on liquidity, to have sent it down quite aggressively as well. And it didn't, although I noticed this morning Bitcoin down 5.6%. I haven't got a clue why. I presume someone smarty-pants out there will say it's because of some forced liquidation. It's because of so-and-so. But when an asset class can move so aggressively and I haven't seen any decent copy, and I'm going to say this, on CNBC, on the FT, on Reuters, on Bloomberg, on every one of those major market sources out there, I've seen no one coming up with a conclusive idea of why a major, major asset is down 6%. That for me is the problem with crypto, the fact that random events can move so aggressively and no one's got a clue why. And it's incredibly hard to value and there's no consensus over how you value Bitcoin at this point. I think fortunately for us, we've got a great guest on crypto who's also a Fed expert and I think that's a great, you know, set of accolades to have behind your name. I look forward to that. I haven't seen too much of the notes. I do wonder if that guest will be saying, crypto is a great purchase. Most experts in crypto tell me it is. I think fortunately, fortunately for us. Michael Saylor tells me it's a great opportunity. Well, so you've got to be careful who you ask, right? I mean, I think that Ben is a great guest. You mean someone's coming on CNBC to sell a product? I don't believe that. I think we'll hopefully get a little bit more insight into how Bitcoin is correlated with some of the other key asset classes, because it is a key debate here whether Bitcoin can serve as a leading indicator right now. Well, if it is a leading indicator, we are in store for a downbeat start to trade this week. That's what we're looking at here in terms of European futures. We've got a red start indicated when you look across the different regions this morning. The CAC 40, the DAX looking to pull back about four tenths of a percent apiece, leading the losses. Now, in terms of the month of November, here's a look for you at how European markets fared over the period. You can see, obviously, a lot of volatility here. Nothing compared to the volatility that we saw stateside, but still swings nevertheless. Ultimately, for the month of November, we did see gains in Europe outside of Germany with the ZetroDAX ending about 0.5 percent lower for the month. Now, in terms of U.S. markets, we mentioned the rally last week. Here's where things closed up on Friday. Bearing in mind, of course, it was a shortened trading day after the Thanksgiving holiday on Thursday, but all three of the majors did end higher. For the month of November overall, here's a look for you at how the period went for Wall Street. You, of course, saw a major pullback intramonth. And then, as we were just discussing, quite a rally last week. The S&P, the Dow and the Nasdaq gaining sharply over the course of the week. Will those gains hold? Of course, that remains to be seen.

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