PANews reported on December 9th that, according to CoinDesk, the cryptocurrency market stabilized on Tuesday after one of the worst November performances for the industry since 2018, with Bitcoin prices hovering around $90,400. This was despite new data showing that Europe led the sell-off this month. Recent intraday data from Presto Research indicates that Europe was the primary driver of the 20% to 25% drop in Bitcoin and Ethereum prices in November, with average returns turning significantly negative across all time periods. In contrast, Asian and US sessions were largely flat, reflecting a divergence in fund flows across regions during the cryptocurrency deleveraging process. The November market decline coincided with significant position adjustments in listed crypto stocks. Meanwhile, the macroeconomic environment remains a major constraint on cryptocurrency price movements.