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Bitcoin fell below $90,000 on Monday, extending losses following its sharp decline over November—the largest monthly drop since the 2021 crypto crash.
The cryptocurrency slid 5% to $86,627, approaching last month’s eight-month low of $80,553, marking its biggest one-day fall since early November.
Bitcoin lost over $18,000 in November, its largest dollar decline since May 2021, when several cryptocurrencies collapsed.
Ether also dropped, falling 6% to $2,840, after losing 22% of its value in November, the largest monthly decline since February’s 32% slide.
The global crypto market, which reached a peak of around $4.3 trillion, has lost more than $1 trillion in value, according to CoinGecko.
U.S.-listed bitcoin ETFs recorded record outflows of $3.43 billion in November, although net inflows for the year remain $21 billion.
Markets elsewhere showed caution; European stocks fell in early trading, U.S. futures pointed to a 0.6-0.7% decline, and safe-haven assets such as gold and the Swiss franc strengthened.
Given bitcoin’s short history, analysts note that seasonal trends offer limited guidance for December price movements.
