Bitcoin fell back below $90,000 on Monday, continuing its losses after a steep monthly decline, the largest since the 2021 crypto crash. The cryptocurrency dropped 5% to $86,627, approaching last month’s eight-month low of $80,553, marking its biggest one-day fall since early November.
In November alone, bitcoin lost more than $18,000, its largest dollar decline since May 2021, when several cryptocurrencies collapsed. Historically, bitcoin tends to rise by around 9.7% in December, ranking it third in terms of monthly performance, with October averaging the strongest gains at 16.6%, and September the weakest with a 3.5% loss.
Ethereum (Ether) also slumped, falling 6% to $2,840, after losing roughly 22% in November, the steepest drop since a 32% slide in February.
Since reaching a record market size of approximately $4.3 trillion, the total cryptocurrency market has shed over $1 trillion in value, according to CoinGecko.
US-listed exchange-traded funds (ETFs) backed by spot bitcoin saw record outflows of $3.43 billion in November, per LSEG data, although $21 billion has flowed into these products so far this year.
In broader markets, European stocks slipped in early trading, while U.S. futures indicated a 0.6–0.7% decline for major indices. Safe-haven assets such as gold and the Swiss franc edged higher.
Given bitcoin’s relatively short history, there is limited seasonality to guide expectations for its performance in December.
