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10x Research: Forced Liquidation, Stalled Crypto Legislation Key Factors Behind Bitcoin's Decline

2025.12.21 17:19:47

On December 21, 10x Research released a note noting Bitcoin posted a sharp drop, driven by forced liquidations, stalled crypto legislation progress, fading corporate buying momentum, and global policy uncertainty weighing on risk appetite. U.S. stocks faced broad weakness fueled by underperforming AI stocks and soft labor data—but the downward trend was partially offset by easing effects from cooling inflation and strong gains in semiconductor firms. Gold prices rose, nearing record highs, supported by surging safe-haven demand and increased global inflows tied to diversified asset allocation. MicroStrategy’s stock weakened as concerns over equity dilution from its stock-based Bitcoin purchases outweighed the positive lift from its ongoing Bitcoin accumulation.
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