Bitcoin Suffers Biggest Monthly Fall Since 2021 Crash

Bitcoin slipped below ninety thousand dollars on Monday, deepening its losses after recording its sharpest monthly decline since the 2021 cryptocurrency crash.

The digital asset dropped five percent to eighty six thousand six hundred and twenty seven dollars, bringing it closer to last month’s eight month low of eighty thousand five hundred and fifty three dollars. The fall also puts it on track for its biggest one day loss since early November.

Bitcoin shed more than eighteen thousand dollars in November, marking its largest monthly dollar decline since May 2021, a period when several major cryptocurrencies collapsed.

Historically, since 2012, Bitcoin has averaged a rise of about nine point seven percent in December, making it the third strongest month in terms of performance. October remains the best performing month with an average gain of sixteen point six percent, while September is the weakest with an average loss of three point five percent.

Ether also suffered losses, falling six percent to two thousand eight hundred and forty dollars. The cryptocurrency lost around twenty two percent of its value in November, its steepest decline since February’s thirty two percent slump.

According to data from CoinGecko, the global crypto market has lost more than one trillion dollars in value since reaching a record peak of around four point three trillion dollars.

United States listed exchange traded funds backed by spot Bitcoin recorded unprecedented outflows of three point four three billion dollars in November, according to LSEG data. However, these products have seen a net inflow of twenty one billion dollars so far this year.

Meanwhile, global market sentiment remained fragile. Stocks in Europe fell during early trading, while futures pointed to a drop of up to zero point seven percent for United States market indices later in the day. Safe haven assets such as gold and the Swiss franc saw slight gains.

Despite Bitcoin’s growing global influence, analysts say its price history is still too short to provide strong seasonal patterns for December trading expectations.