Bitcoin is preparing for its worst monthly price drop since a series of corporate bankruptcies hit the crypto industry in 2022, Bloomberg reports, according to UNN.

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According to Bloomberg data, the largest cryptocurrency fell 6.4% to $81,629 on Friday before fully recovering its losses. At 7:42 a.m. London time (9:42 a.m. Kyiv time), it was trading at $84,166. Ether fell 7.6% to below $2,700.

According to Bloomberg, Bitcoin lost about 23% of its value in November, its largest monthly drop since June 2022. The collapse of Do Kwon’s TerraUSD stablecoin project in May of that year triggered a chain of corporate bankruptcies, culminating in the collapse of Sam Bankman-Fried’s FTX exchange.

Despite pro-cryptocurrency support from the…