Global Crypto Update: Bitcoin Rebounds from 7-Month Low 📉

• Bitcoin briefly dipped below the $90,000 mark, hitting a 7-month low of $89,286.75, before finding buyers and trading up nearly 1.9% at $93,532. • The risk-sensitive asset is now 26% below its October peak (above $126,000), losing all year's gains. • Market Impact: Approximately US$ 1.2 Trillion has been wiped off the total crypto market value in the past six weeks. • Key Drivers: The sharp decline is attributed to doubts over future U.S. interest rate cuts, a broad risk-averse mood, and significant institutional/listed company exits. • ETF Outflows: U.S. spot Bitcoin ETFs have seen major outflows totaling US$ 3.7 Bn since Oct 10, with $2.3 Bn exiting in November alone. • Corporate Impact: Standard Chartered estimates a drop below $90,000 could leave half of listed companies' Bitcoin holdings "underwater." The biggest corporate holder, Strategy, acquired 8,178 BTC on Monday. • Altcoins: Ether has also faced pressure, losing nearly 40% of its value from its August peak.