Bitcoin's slump continues, falling towards $86,000

Market Overview - The markets experienced a rally last week despite ongoing concerns regarding AI spending, US consumer strength, market valuations, and potential Federal Reserve interest rate cuts, which are now seen as 87.4% likely to occur on December 9th and 10th [1][2]. - The rally's significance may be overstated due to the holiday-shortened trading week, resulting in lower liquidity, particularly with Thanksgiving affecting trading volumes [3]. Cryptocurrency Insights - Bitcoin experienced a notable decline of 5.6%, with no clear explanation provided for this movement, highlighting the unpredictable nature of cryptocurrency markets [4][5]. - The lack of consensus on how to value Bitcoin raises concerns about its volatility and the potential for random events to cause significant price fluctuations [6]. European Market Performance - European markets are expected to open lower, with the CAC 40 and DAX projected to pull back by approximately 0.4% each [8]. - For November, European markets showed volatility, with overall gains outside of Germany, where the Zetradax ended about 0.5% lower for the month [10]. US Market Performance - US markets closed higher on the last trading day, with all three major indices (S&P, Dow, and Nasdaq) showing significant gains during the week [11]. - November saw a major pullback in US markets, followed by a strong rally, but the sustainability of these gains remains uncertain [12].