Bitcoin slides back toward April lows
Bitcoin dropped more than 4% to around $86,000, moving back toward its lowest level since April, pressured by a renewed market selloff.
The crypto market remains unsettled after weeks of selling pressure that began in early October, when roughly $19 billion in leveraged positions were liquidated, just days after Bitcoin hit an all-time high of $126,251.
The fresh decline coincided with comments from Strategy Inc.’s CEO, Phong Le, who said the company could sell some Bitcoin if needed to cover dividends, while an alert from Yearn’s X highlighted an issue in the yETH liquidity pool, adding to market concerns.
Bitcoin has now lost 16.7% of its value in November, though easing selling pressure helped it recover last week, supported by expectations of a more aggressive US Federal Reserve rate-cutting cycle.
Markets now assign roughly an 85% probability to a 25 bps cut in December, up sharply from about 30% a week ago, with three additional cuts expected by the end of 2026.
UCapital Asset Management LLP or group companies may have commercial relationships with the companies mentioned. This content is not financial advice.
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