On November 8th, BTSE COO Jeff Mei highlighted that concerns over inflated AI stock valuations may lead to further drops in Bitcoin. Augustine Fan from SignalPlus noted the absence of positive triggers and ongoing regulatory issues could dampen institutional investor participation.
The global cryptocurrency market capital peaked at around 4.4 trillion USD in October, followed by a rough 20% correction that led to the liquidation of 19 billion USD in leveraged positions, significantly impacting investor confidence. Bitcoin’s price briefly fell below the critical 200-day moving average.
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