On December 6, the cryptocurrency market declined due to a risk warning issued by seven associations in China regarding virtual currencies, and the EU's MiCA legislation limits stablecoins; BlackRock's Bitcoin ETF has seen fund outflows for five consecutive weeks; there are disagreements over the Federal Reserve's interest rate cuts, causing funds to be diverted to traditional safe-haven assets; Bitcoin broke a key level triggering a series of liquidations, exacerbating the decline.

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