Crypto Market Cap Falls $800B Since Early October as Stablecoin Outflows Reach $14B

Bitcoin fell as much as 9% to about $62,000 before paring losses, as total crypto market value slid from $2.9 trillion in early October to $2.1 trillion, erasing roughly $800 billion. Trading volume jumped to $107 billion from $29 billion the prior weekend. Stablecoin net outflows hit $14 billion over 30 days, leaving less cash to absorb selling.