Bitcoin is extending its brutal slump into bear market territory.

The apex crypto is on the verge of ending another week in the red, tumbling below $84,000 and barreling toward its worst month since 2022.

After missing out on an expected October rally, the carnage in crypto continued into November. A host of selling pressures have accumulated in the space, and bitcoin is down 33% from its all-time above $126,000.

All told, more than $1 trillion in value has been erased from the crypto market in recent weeks.

Market watchers say a handful of negative catalysts are keeping the pressure up this week:

• Margin calls on leveraged positions

• Market conditions the most bearish since 2022
• An uncertain interest rate cut…