Crypto Market Declines by $2.2 Trillion Since October as Bitcoin Reverses Post-Election Gains

Market Decline: The cryptocurrency market has seen a significant decline of about 50% since October, with Bitcoin down approximately 10% since Trump's election, leading to a total market cap reduction of around $2.2 trillion.

Liquidity Issues: The Kobesi Letter highlighted that the market depth remains over 30% below its October peak, indicating ongoing liquidity challenges and a broader sell-off affecting various asset classes, including major tech stocks.

Bitcoin's Price Movement: Bitcoin's price recently traded at $65,030.20, reflecting a 9.25% drop in 24 hours, with market sentiment described as "extremely bearish" and significant selling pressure observed.

Future Outlook: Analysts suggest that a potential bottom for cryptocurrencies could occur when structural liquidity is restored, alongside a recovery in capital and price levels, although maximum bearish sentiment persists in the market.