The crypto market saw a sharp drop on December 15In December, most mining operations in Xinjiang were shut down, with around ~400K Bitcoin miners taken offline. pic.twitter.com/PXDaVeedLRThe largest single liquidation order happened on Binance – BTCUSDT value $11.58M pic.twitter.com/RuFEphOu2n
If Bitcoin stays above $85,000, a bounce toward $90,000 is possible. However, a clear break below $84,000 could push the price down toward $80,000. The crypto market is mixed today, with Bitcoin stabilizing near support while altcoins remain volatile after heavy selling and liquidations. Major Bitcoin ETFs saw large single-day outflows of nearly $358 million, with no notable inflows. This institutional selling added significant downward pressure to the overall market. Bitcoin’s sharp decline typically leads the market. As the dominant crypto fell, it triggered widespread selling and liquidations across portfolios, pulling down major altcoins in correlation. Technically, holding above $85,000 support could spark a bounce toward $90,000. However, a break below $84,000 may see a test of $80,000, with institutional accumulation providing a potential floor.FAQs
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