Cryptocurrency Market Stabilizes After November Decline

According to Odaily, the cryptocurrency market showed signs of stabilization on Tuesday following one of the most challenging Novembers since 2018. Bitcoin's price hovered around $90,400. Recent data from Presto Research indicates that Europe led the sell-off pressure during the month, contributing significantly to the 20% to 25% decline in Bitcoin and Ethereum prices. The average returns across various time periods in Europe turned sharply negative. In contrast, the performance in Asian and U.S. markets remained relatively stable, highlighting regional differences in capital flows during the cryptocurrency deleveraging process. Alongside the market downturn, publicly traded crypto stocks also underwent significant position adjustments. Meanwhile, the macroeconomic environment continues to be a major factor influencing cryptocurrency trends.