Bitcoin’s December Opens with a Sharp Sell-Off

The cryptocurrency market experienced a turbulent start to the final month of the year, as Bitcoin’s price action delivered a fresh jolt to investors. This follows a historically poor November performance for the digital asset, which recorded its most significant monthly decline in seven years with losses approaching 18%.

The new month began with a dramatic downturn. After a weekend recovery that pushed Bitcoin’s value near $90,000, a swift correction occurred on Monday, December 1. In a single hour, the premier cryptocurrency’s price plummeted below $87,000. This violent move triggered a massive liquidation event across derivatives markets, wiping out approximately $646 million in leveraged positions. Data indicates that the vast majority—nearly 90%—of Read more...