Crash

The crypto market saw a major downturn on December 1, with Bitcoin plunging over 5% and erasing $160 billion in total market cap. The drop is attributed to macroeconomic uncertainty ahead of a Fed speech, tightening monetary signals from Japan, and renewed regulatory pressure from China.

Ethereum’s price has fallen 6% in the past 24 hours, and an expert warns of a potential deeper crash due to a bearish pattern. Analyst Ali Martinez predicts further declines to $2,250, $1,550, or even $1,080.

Macro economist Lyn Alden believes a major Bitcoin crash is unlikely in the short term due to a lack of market euphoria. While some predict a significant downturn, Alden remains optimistic for the medium term, forecasting a return to $100,000 levels by 2026 or 2027.

Following a recent Bitcoin crash, prominent figures like Tom Lee suggest a technical glitch with the stablecoin USDe on Binance triggered the downturn. Others, however, are pointing fingers at deliberate market manipulation by large funds.