Bitcoin fell nearly 5% to around $95K on Friday, extending losses for a fourth straight session and sinking to its lowest level since early May. A broad risk-off mood weighed on global markets amid persistent concerns about stretched AI valuations, the absence of key US economic indicators, and comments from several Federal Reserve officials questioning whether another rate cut in December is warranted. Bitcoin is now down more than 20% from the record high of $114K reached last month. Cryptocurrencies have struggled to recover from October’s flash crash, which triggered record liquidations and widespread deleveraging, highlighting the ongoing risk aversion in the market. Adding to the pressure, reports have surfaced about potential new Japanese regulations targeting cryptocurrency treasury companies.