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Bitcoin Drops After Election-Fueled Rally Collapses
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Bitcoin fell to $60,033.01 on Friday, wiping out gains sparked by Donald Trump's November 2024 victory and sliding roughly half from an October peak above $120,000. Analysts cite regulatory uncertainty, forced deleveraging and correlated tech and precious-metal sell-offs; the downturn produced a $12.4 billion reported loss at Strategy and prompted Gemini to cut about a quarter of its workforce.
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