Bitcoin Selloff: Market Loses $600 Billion Following October High

Core Insights - Bitcoin has seen a recent gain of 2.2%, while Ethereum has increased by 4.1%, amidst ongoing pressure in the crypto market [1] - The current market situation is different from past crashes, which were typically triggered by significant events like exchange collapses or bankruptcies [2] - The crypto asset appears to be maturing and is now more correlated with other asset classes, contrary to its original premise of being independent [3] - Despite the lack of significant changes in the regulatory environment since Trump's election, Bitcoin has erased all its previous gains, indicating a complex market response to regulatory rhetoric [4] - Following a flash crash on October 10th, the crypto market has struggled to recover, entering a potential bear territory or another crypto winter [5][6] - The approval of crypto ETFs initially led to massive inflows from retail investors, but there is now a trend of withdrawals, suggesting increased sensitivity to price volatility among investors [6]