Here’s the Main Reason Bitcoin Dipped 5% to $85,000 on December 1
- Bitcoin falls to $85,000 as the crypto market drops more than 5%.
- Over $600 million in leveraged positions faced liquidation within 24 hours.
- Japan’s rising bond yields prompt risk-off sentiment across global markets.
Crypto markets recorded sharp losses on the first day of December. Bitcoin has plummeted from above $91,000 to $85,000, then settled at $86,214, a 5.3% drop in the past 24 hours. This current dip has now increased Bitcoin’s total loss to 21.6% over the past month. Meanwhile, the broader market also slid more than 5%.
The downturn followed a wave of liquidations, thin trading activity, and rising global rate concerns. The market lost about $130 billion in value within hours, pulling total capitalization down to $2.92 trillion before a minor rebound to $3.015 trillion.
Similar to Bitcoin, Ethereum, XRP, Solana, and BNB also recorded declines o…
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