Bitcoin fell below the $85,000 level on Monday as market sentiment weakened amid rising speculation over a potential rate hike in Japan.
Notable Statistics:
- Coinglass data shows 266,362 traders were liquidated in the past 24 hours for $961.73 million.
- In the past 24 hours, top losers include Zcash, SPX6900 and Celestia.
Notable Developments:
- Bitcoin Loses $90,000: Look At 2019 To See What Happens Next
- Arthur Hayes Questions Tether’s Solvency: Leading Crypto Analyst Asks Grok To Compare Stablecoin Issuer With Traditional Banks And Here’s What It Said
- Peter Schiff Says Michael Saylor Strategy-Bitcoin Model Is ‘Fraud’ And MSTR Is ‘Broken’
- CNB Buys Bitcoin To Touch Reality As Michl Says It Could Go Very High or Zero
- Jim Cramer Notes ‘Horrible’ Bitcoin Start To December As BTC Falls By $4,000 In Minutes
- Chainlink Goes Mainstream: Grayscale To Launch First US Spot LINK ETF This Week
- Strategy Launches $1.44 Billion USD Reserve To Power Its Bitcoin ‘Reactor’
Trader Notes: Altcoin Sherpa expects Bitcoin to bottom somewhere in the $75,000–$85,000 range, the same high-volume region that supported price during the February–April 2025 correction.
He views it as a strong area for beginning long-term scaling, though warns the process may take time.
Daan Crypto Trades noted BTC is getting rejected from a key former support zone that has flipped into resistance, and the recent 15% relief rally is already losing momentum.
Still, he cautions that early monthly price action is often unreliable and prone to sharp fake outs.
Crypto Seth highlighted one of the biggest drivers of the move: roughly $861 million in long liquidations, wiping out more than 261,000 traders.
He described it as a textbook liquidity hunt, the market flushing excess leverage before resetting.
Despite the sweep down to $84,200, whale activity was aggressive.
Large holders stepped in to add about 71,500 BTC (~$6 billion) in long positions, signalling confidence at lower levels.
Nebraskangooner expects Bitcoin to remain choppy and directionless in the near term. With both bulls and bears attempting to reposition for the next major trend, he warns that few traders will navigate the volatility cleanly before the market chooses a direction.
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