Why is Bitcoin, crypto down? Panic after sudden crash; ‘risky start to December
Bloomberg reported that Bitcoin slid as much as 4.3% to below $88,000 in early Asia trading. It added that Ether dropped 6% to below $2,900.
“It’s a risk off start to December,” Sean McNulty, APAC derivatives trading lead at FalconX, told the publication. “The biggest concern is the meagre inflows into Bitcoin exchange traded funds and absence of dip buyers. We expect the structural headwinds to continue this month. We are watching $80,000 on Bitcoin as the next key support level.”
The coming week will deliver an important read on the strength of the US economy, offering fresh clues for policymakers debating how aggressively to move on interest rates through 2026.
Adding to the focus on monetary policy, President Donald Trump said Sunday that he has chosen a nominee for the next Federal Reserve chair, a selection he has repeatedly linked to his desire for lower borrowing costs.
#writetoearn #upgrade #Crypto #BTC $
