Bitcoin Crashes $3,000 Overnight: What’s Next for Crypto Markets?
Bitcoin dropped 2.1% on Dec. 23, losing $3,000 overnight and marking an 11.5% decline over the week, with its market cap now at $1.84 trillion.
Trading volumes hit $57 billion, while the broader crypto market saw $155 billion in activity. On South Korea’s Upbit exchange, Bitcoin traded at a premium, priced at $97,729 compared to $93,235 elsewhere.
The crypto derivatives market experienced $271 million in liquidations, with Bitcoin leading at $63 million, mostly from long positions. Analysts question whether this dip signals deeper retracement or a buying opportunity, as markets react to recent Federal Reserve comments.
Clever Robot News Desk 24th December 2024
