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Bitcoin off to a “violent” December
Bitcoin dropped below $86,000 on the first morning of December, plummeting nearly 6% in the past 24 hours. The asset is down over 31% from its October 6 all-time high, and the tumble comes on the heels of two previous difficult months for the asset. This is also bitcoin second-worst fourth quarter, down 24.4%, according to CoinGlass. Timothy Misir, head of research at Blockhead Research Network, called bitcoin’s drop “violent” and the washout a “classic liquidity and positioning event, painful, fast, and crowd-creating.” Meanwhile, while bitcoin ETFs didn’t suffer outflows last week, they closed ... (full story)