Crypto Market

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.

Bitcoin plunged 7% overnight, wiping out last week’s gains, as news from Japan triggered massive liquidations. The market now awaits a key speech by Fed Chair Jerome Powell.

XRP has fallen approximately 7% to around $2 amid a broader crypto market decline, with technical factors and ‘sell the news’ sentiment exacerbating the drop.

The crypto market is calm with Bitcoin holding steady around $91,400. While the market cap is slightly up, altcoins show more volatility, with Quant leading gains and KuCoin’s token seeing significant losses.

Kaspa (KAS) has surged nearly 20% in the last 24 hours, outperforming all other top 100 cryptocurrencies. The rally puts the coin, often dubbed ‘Bitcoin 2.0’, on track for its best performance streak in months, even as the broader market struggles for November gains.

After a recent dip, the Bitcoin price is showing signs of recovery. Analyst CryptoRank.io suggests that with short-term holders at a loss, the market may be entering a key accumulation zone, presenting a potential buying opportunity.

Bitcoin faces resistance at key levels while Dogecoin launches its first ETF. Ethereum and XRP show gains, and we highlight the top gainers and losers in the top 100.

Market analyst Tom Lee argues the recent crypto market slump is not a typical crash but a liquidity crisis among market makers, triggered by the October 10 sell-off. He warns this downward pressure could persist for several more weeks.