Bitwise Asset Management European head Bradley Duke talked with Proactive's Stephen Gunnion about the recent decline in Bitcoin's price and what it could mean for investors.

Duke noted that while some view the fall from over $110,000 to $87,000 in November as a "disaster," others see it as a chance to accumulate at discounted levels. “It really is a sort of a Black Friday discount price for people who want to get involved,” he said.

He explained that the downturn was triggered by a tweet from former President Donald Trump announcing a sharp tariff hike on China. Since crypto markets trade around the clock, Bitcoin bore the immediate brunt of the selloff while traditional markets were closed. This sparked a wave of profit-taking by long-term holders and panic selling by short-term investors, further accelerating the price decline.

Despite this, Duke said institutional demand remains evident. Flows into Bitcoin ETPs continue, although somewhat tempered, and some large holders—or "whales"—have been buying the dip. The company has also engaged with investors who previously felt they had missed the opportunity to enter the market and now see more attractive entry points.

Looking ahead, Duke pointed to seasonal patterns that could support Bitcoin in December. He noted historical spikes in Bitcoin ETP flows towards year-end, particularly from both European and US investors, which could help lift the price as the year closes.

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