Crypto Market Drop Under $3T Amid $1B Liquidations
Crypto market cap drop from $3.38 trillion go down to $2.95 trillion for late November, na di lowest since May. Bitcoin fall pass $100,000, reach $95,900, Ethereum, Solana plus XRP drop over 6%. The downtrend cause about $1.1 billion liquidations plus push derivative open interest down 7% to $133 billion. Average market RSI cool down to 39, the Crypto Fear & Greed Index fall to 15, showing plenty fear. Traders talk say the market sell-off na because of macro pressure—Fed delay rate cuts, still dey face liquidity wahala after October flash crash—and $4 billion spot BTC and ETH ETF money waka comot. On-chain data talk say exchange outflows dey record high even as institutions don collect over 4 million BTC this year. Analyst believe say Bitcoin get support around $90,000–$98,000. Possible boost for recovery fit come if Fed stop quantitative tightening on December 1, Treasury increase im spending and halving-driven rallies wey fit push price reach $145,000 by Q4 2025. Experts talk say this pullback na mid-cycle reset and better chance to buy before monetary policy relax.
Bearish
Dis kain tins de negative for Bitcoin price dem short term becos sell pressure don increase. Liquidation wey pass $1 billion, record exchange outflows and macroeconomic wahala don push BTC down key support level dem and cause kpain fear among traders. Analyst still dey talk say mid-cycle reset and long term tins fit happen—like Fed fit stop quantitative tightening, Treasury go spend more and halving for 2025—market momentum now still weak. Traders suppose expect say market go still dey volatile and fall more till policy clear for ease and fresh ETF inflows show.