There’s no single catalyst behind the move. Instead, BTC was hit by a succession of negative developments while underlying demand and liquidity have weakened considerably.

Bitcoin has dumped by over $14,000 in ten days, falling from $81,000 after the US midterms to under $67,000 on Saturday morning. This massive collapse came on the heels of several developments that signaled weakening demand for risk-on assets, while some industry-specific factors exacerbated the move.

The cryptocurrency has erased almost all gains charted since the mid-August rally, and here are the reasons we would gather.

Politics, Wall Street, Crypto Liquidity Issue

The Democratic sweep started the…