The crypto market is down today as the impact of large liquidations temporarily shakes the bulls’ confidence.
The crypto market is down today after a sharp correction hit Bitcoin (BTC), Ether (ETH) and altcoin over the weekend.. Bitcoin price dropped by 6.5%, losing nearly a week of gains in 20 minutes on Dec. 10.
Opening the week, crypto market price action remains tilted to the downside as investors and money managers further digest the factors behind the abrupt correction.
The decline across major cryptocurrencies has led to a rush of liquidations across the derivative market. Bullish traders were caught off guard, leading to a quick spat of long liquidations.