Bitcoin’s latest drop highlights growing market stress, weak investor demand, and cautious sentiment across global crypto markets this week.
Bitcoin fell over 6% on Monday, dropping below $86,000 during early Asian trading as heavy selling persisted. Solana, Ethereum, and XRP also slid roughly 8%. The market remains fragile after a major selloff in early October wiped out $19 billion in leveraged positions shortly after Bitcoin hit its $126,251 all-time high.
Bitcoin lost 16.7% in November but briefly rebounded above $90,000 last week. More than 216,000 traders were liquidated in the past 24 hours, totaling $638.8 million. Analysts warn that weak dip-buying and minimal ETF inflows remain structural challenges, with $80,000 now the next key support.
Strategy CEO Phong Le added pressure after saying the firm could sell Bitcoin if its mNAV turns negative. S&P also downgraded USDT to its lowest rating. Bitcoin ETF flows remain soft, with only $70 million in net inflows last week. Cautious derivatives activity and China’s renewed warning on virtual currencies further hurt sentiment.
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