Bitcoin Crash Sets Stage for Awkward Thanksgiving Talks

Core Insights - The cryptocurrency market is experiencing significant declines, with Bitcoin on track for its worst month since 2022, following a massive rally after President Trump's election [1][2] - Retail traders are facing challenging conversations about the future of crypto during Thanksgiving gatherings, reminiscent of past downturns [2][3] Market Performance - Bitcoin's price has dropped sharply from a peak of over $126,000 in early October to around $88,000, while Ether has fallen approximately 40% from its August high [3][4] - Investors have withdrawn over $3.5 billion from US-listed Bitcoin exchange-traded funds, indicating a loss of confidence in the market [4] Investor Sentiment - Many investors are skeptical about the future of cryptocurrencies, particularly regarding anticipated Federal Reserve interest-rate cuts and institutional adoption [4] - Retail traders are preparing to defend their investments in crypto during family gatherings, with some expressing optimism despite recent declines [5][6] Historical Context - The period around Thanksgiving has historically marked peaks for Bitcoin, with previous years seeing retail investors enter the market only to face subsequent declines [8] - Conversations about Bitcoin and crypto investments are becoming more common among family members, indicating growing interest but also skepticism [10][11]