Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Bitcoin price suffered a major decline as it briefly dipped below $87,000, erasing the week’s gains in a single session.
The flash sale led to $400 million in liquidations in just 60 minutes and pushed the value of the global cryptocurrency market up 4% to $3.04 trillion. Trading activity resumed as retail and institutional investors reacted quickly to price pressures.
Sponsored
Sponsored
Market turmoil leads to massive liquidations
Liquidation in consolidated positions increased, reflecting the speed of the decline. Market data indicated $400 million liquidated In just one hour. This rapid wave of losses highlights the risks that traders face during strong price movements.
Trading volume jumped to more than $110 billion as investors increased their holdings. Bitcoin’s dominance reached 57.1%, while Ethereum held 11.3% accordingCoinGecko data.
The market analyst warned that Bitcoin price model Similar to previous cycles. After recovering above $90,000 after a decline on November 20, Bitcoin hovered around $91,208.85 on November 28 and held support at $90,000 for six days.
Korbut Laboratories said that Current price movement It resonates from April 2024, when Bitcoin returned above $70,000 but fell to $57,000 in May and then to $67,000 by June. This pattern suggests that a horizontal movement or other correction is possible.
Other analysts also see the risk of larger losses. Someone said that A bearish pattern is developingnoting that a “wipe out” could occur if Bitcoin falls through the $80,000 support.
Sponsored
Sponsored
An analyst explained: “Bitcoin’s opening this week is not good! It has become more than a 2-1-2d as a measured move. This tends to cause a sort of “deletion” if we succeed in breaking $80.00. We can see a drop like 48K if the sellers remain until the end of this year.”
Technical analysis also indicates important areas of support. If the sale continues, prices may drop further. A drop to $48,000 would represent a 45% pullback from current levels, but such a move would likely require continuation. Downward trend.
The stock trading narrative charts market sentiment
Some analysts see Bitcoin’s decline as part of a broader shift in asset allocation. The move comes as traditional safe-haven assets, such as precious metals, have outperformed. This suggests that some investors are reconsidering their exposure to risk.
This debate suggests that capital is flowing from digital assets to “hard money” alternatives. The price of silver, for example, rose, while the price of Bitcoin fell. Some analysts see this as a sign of changing investor attitudes.
He said Macrobysunil “While #Bitcoin erased most of last week’s gains in a single candle, #Silver is breaking fast like there is no tomorrow. Money chooses real assets over speculative assets. The cry is clear: paper wealth ← hard money, digital risk ← fiat metals.”
This theory remains highly controversial. Bitcoin has repeatedly recovered from significant selloffs. The market dominance of 57.1% shows that it always attracts more Digital asset flowsDespite the fluctuations.
Meanwhile, on the first day of December, Bitcoin briefly fell below $87,000 before quickly recovering. At the time of writing, Bitcoin is trading in the $87K-200K-$87K400 range, with market participants closely watching to see if the $87K support level holds.
