Crypto market per day – Bitcoin fall, trend change or correction?

Bitcoin fell sharply below $84,000 amid global turbulence, mass liquidations and growing pressure from macroeconomic and regulatory factors.

Bitcoin fall: liquidation and market sentiment

Within 24 hours, Bitcoin lost more than 4% of its value, settling at about $83,000—this is the minimum for the month. The daily volume of futures liquidations is approaching $2 billion, which was the largest simultaneous liquidation of positions since the spring of 2022.Analysts note: behind the decline in Bitcoin is not only market panic, but also a correction amid anticipation of the FRS decision on the rate, scheduled for December. This uncertainty is exacerbated by a significant outflow of funds from Bitcoin ETFs – on November 20 alone, investors withdrew a record $903 million.

According to large exchanges, Ethereum, Litecoin, Cardano, XRP also showed a daily decrease of 8 to 12%. The focus is on FRS Chairman Williams’ statement about the possibility of the first rate cut in a year, which dramatically changed market sentiment: some traders expect a reversal, others expect a continuation of the bearish trend and a fall to $75,000. In addition, the “fear and greed” index recorded extreme pessimism, which historically indicates the possible formation of a market bottom.

News highlights:

• Bitcoin reached a monthly low and pulled the market with it.
• Investors closed positions en masse, liquidations and outflows from ETFs increased.
• The Fed’s decisions and the state of the global economy determine the future trend.
• The “fear and greed” index predicts that a reversal is imminent, but risks remain.

Disclaimer:
The information is for informational purposes only and under no circumstances constitutes individual investment advice.