The cryptocurrency market has experienced a dramatic downturn, losing over $1 trillion in capitalization over the past month. Bitcoin (BTC) has been hit hard, dropping 27% from its peak of approximately $126,000 to a seven-month low of $88,500 as of November 20. This decline follows a significant market crash on October 10–11, which resulted in over $19 billion in leveraged liquidations. Ethereum (ETH) and other leading cryptocurrencies have also suffered substantial losses, with ETH falling 24% to below $3,000. The earlier surge in the crypto market was driven by expectations of falling U.S. interest rates and increased institutional interest, factors that have since diminished in influence.