Crypto Market Sees $250M in Liquidations Ahead of U.S. GDP Release

Market Overview - The broader crypto market is experiencing significant selling pressure, with daily liquidations exceeding $250 million ahead of the U.S. GDP data release on December 23 [1][2] - The overall crypto market capitalization has decreased by 2.46% to $2.96 trillion, reflecting heightened volatility [2] - Bitcoin's price has declined by 2.4% to $87,546 after facing rejection at $90,000, while Ethereum and other altcoins have also seen similar corrections [1][2] Investor Sentiment - The Crypto Fear & Greed Index has dropped to 24, indicating extreme fear among investors [3] - Despite the price declines, total crypto derivatives open interest has increased by 1.1% to $129 billion, suggesting that traders are maintaining elevated positions amid uncertainty [3] Market Dynamics - Buying pressure in the crypto market is weakening, with both trading activity and network participation showing signs of slowdown [5] - Active address counts are sharply declining, indicating reduced network engagement, which may require additional time for the market to stabilize and recover [6] Upcoming Economic Indicators - Key U.S. GDP data is set to be released on December 23, followed by weekly jobless claims on December 24, with U.S. markets closed on December 25 for the Christmas holiday [4] - China's M2 money supply data will be released on December 26, adding another macroeconomic variable for market assessment [4]