Bitcoin price fell below the $80,000 support level, hitting a nine-month low and wiping out $2.6 billion in trader positions. According to BeInCrypto data, the 6% slide sent the token to $77,082 before a minor rebound. This marked the first time prices have sat this low since April 2025. Bitcoin Sinks Below ‘Fair Value’ for First Time in Years The price action pushed Bitcoin below critical on-chain benchmarks for the first time in years. Glassnode data confirmed that Bitcoin fell below its True Market M ...

Market Overview - Major altcoins, including XRP and Dogecoin, are trading at their lowest levels since 2024 as Bitcoin continues to decline, falling below $84,000 [1] - Bitcoin has reached a two-month low, while some altcoins are experiencing prices not seen in over a year [1] Altcoin Performance - Dogecoin (DOGE) has decreased by 8% in the last 24 hours, currently priced at $0.115, which is 84% lower than its all-time high of $0.73 in 2021 [2] - XRP has dropped 7% in the last 24 hours, trading at $1.78, down more than 51% from its all-time high of $3.65 last year [3] - Other altcoins like Cardano (ADA), Stellar (XLM), Litecoin (LTC), and Hedera (HBAR) have also fallen by 5% or more, reaching their lowest marks since 2024 [4] Legislative Context - The decline in crypto prices coincides with developments regarding the CLARITY Act, a crypto market structure bill that passed a markup session in the Senate Agriculture Committee without Democratic support [4] - Senate Democrats are committed to passing the bill but express concerns that the current draft lacks essential provisions due to Republican and White House influences [5] Liquidation Trends - Liquidations in the crypto market have exceeded $1 billion in the last 24 hours, primarily affecting long positions, with nearly $920 million in long liquidations [6] - The price drops of Bitcoin and Ethereum, which fell by 6.3% and 7.7% respectively, are significant contributors to the liquidation events [6] Current Prices - Bitcoin is currently trading around $83,811, while Ethereum is priced at $2,788 [7]

Photo by BeInCrypto Market sentiment shifted into extreme fear on December 1. Short positions are dominating the derivatives market. Several major altcoins are exhibiting severe imbalances in their liquidation maps, which could trigger a new record in liquidations. The following analysis highlights the underlying factors that could cause the market to deviate from short-term expectations in the first week of December. 1. Ethereum (ETH) ETH’s 7-day liquidation map shows that cumulative liquidation volume ...

Core Insights - European investors will soon have access to 3x leveraged short and long exchange-traded products (ETPs) for Bitcoin and Ethereum, launching on the SIX Swiss stock exchange [1][2] - The timing of these products is debated, with some viewing it as a good opportunity while others see it as risky due to recent market volatility [2] - Bitcoin and Ethereum have experienced significant declines, with Bitcoin down 11.8% and Ethereum down 12.5% in the past week [1] Group 1: New Product Launches - Leverage Shares is set to launch the world's first 3x and -3x Bitcoin and Ethereum ETFs in Europe next week [2] - The new leveraged products will join existing global offerings that provide amplified investment opportunities, including a recent application by Volatility Shares for up to 5x leveraged ETFs on Bitcoin, Solana, and XRP [3] - 21Shares has also introduced a 2x leveraged Dogecoin ETF, allowing investors to potentially double their returns on the meme coin [4] Group 2: Market Context - The launch of these products follows a significant market downturn, marked by a $19 billion liquidation event on October 10 [4] - Bitcoin's price recently fell to nearly $81,000, a seven-month low, contributing to over $2.2 billion in crypto liquidations [6] - Industry experts express concerns that the rise of leveraged products could pose systemic risks to the long-term health of the crypto market [5]