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Core Viewpoint - The cryptocurrency market is experiencing a significant downturn, with major cryptocurrencies like Bitcoin and XRP facing substantial losses, leading to a loss of investor confidence and a potential shift towards a fragile market environment [2][5][8]. Market Performance - As of November 16, Bitcoin fell below the $95,000 mark, with a current decline of 0.7% at $95,812, while Ethereum and XRP also saw declines of over 1% and 2% respectively [3][5]. - In the past 24 hours, nearly 100,000 traders were liquidated, resulting in a total liquidation amount of $180 million [4]. Investor Behavior - Since the market crash on October 10, the total market capitalization of cryptocurrencies has lost over $1 trillion, indicating a persistent negative trend [5]. - Long-term holders are increasingly selling off their assets, with approximately 815,000 Bitcoins sold in the past 30 days, marking the highest selling activity since early 2024 [8]. - The sentiment among investors has shifted negatively, with a significant increase in negative discussions surrounding Bitcoin, Ethereum, and XRP, leading to a decline in the positive/negative sentiment ratio [5][6]. Impact on Notable Investors - The Trump family has seen a substantial decrease in their cryptocurrency-related wealth, with a reported drop of about 30% in the value of their investments since Bitcoin's peak on October 5 [10][11]. - Trump's indirect holdings in DJT stocks and World Liberty Financial tokens have also experienced significant declines, with the value of DJT shares dropping from nearly $2 billion to approximately $1.3 billion [10]. Company Performance - MicroStrategy, the largest Bitcoin treasury company, has faced a stock price drop of over 32% in the past month, with its market capitalization now at $57.4 billion, which is less than the value of its Bitcoin holdings at $62.3 billion [11][13]. - The company's relative net asset value (mNAV) has fallen to approximately 0.95, indicating a historic situation where its market value is less than its Bitcoin holdings [13].