Crypto Markets Are Seeing Red This Black Friday

This time last year, bitcoin was topping $90,000 and flirting with all-time-high valuations. For cryptocurrency traders and blockchain maximalists, the Thanksgiving dinner table was likely one full of braggadocio and “I told you so’s” as they urged their family members not to miss out on the crypto rush, carried away by a shared sense of optimism that digital assets were finally entering a durable mainstream era.

This Thanksgiving, the mood may be a little more subdued. Market volatility in recent weeks has erased nearly all of the market’s gains this year. Relatives that bought at the top of the market cycle could be feeling as bitter as any homemade cranberry sauce.

But in an unexpected twist, market enthusiasm has not…

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