📉 Bitcoin's Bear Market Blues: Is the Worst Over or Just Beginning? 🚨 The Great Crypto Crash Bitcoin has crashed from its October all-time high of $126,198 to around $86,313 —a brutal 31.6% drop that wiped nearly $800 billion from its market value. This marks Bitcoin's worst monthly performance since the 2022 Crypto Winter.
📊 Technical Signals The charts tell a grim story. Bitcoin has broken below both its 50-day and 200-day moving averages, with the 14-day RSI at 32—deep in oversold territory. But oversold doesn't guarantee a bottom. Analysts warn Bitcoin could fall to $70,000 if macroeconomic conditions worsen. Options markets show reduced demand for downside protection, suggesting some traders believe the worst may be over. Still, caution prevails.
💡 What Triggered This? Five key factors drove the selloff: 🔴 $19B Liquidation Event: October 10's forced liquidations—the largest in crypto history—crushed overleveraged traders 🔴 Risk-Off Sentiment: AI stock volatility and recession fears triggered broad selloffs 🔴 Fed Hawkishness: No December rate cut expected 🔴 ETF Outflows: $5 billion exited Bitcoin ETFs since October 🔴 Profit-Taking: Long-term holders cashing out gains
🎯 December Watchlist 📌 $82K Support: The critical line—breaking it opens the door to $70K 📌 Fed Meeting: Dovish surprises could spark a rally 📌 ETF Flows: Institutional money drives this market now 📌 100-Week MA: Losing this signals a prolonged bear market