Bitcoin

Million

Drops

Spot

<ul class="wp-block-list"> 
 <li>Bitcoin fell 5.10% to $98,161.25, with a market cap of $1.94 trillion.</li> 
 <li>Crypto liquidations reached $1.1B, driven by leveraged retail trades.</li> 
</ul> 
The crypto market faced significant turmoil as Bitcoin’s price dropped below $95,000 after reaching $100,000. Bitcoin is <a href="https://www.tradingview.com/chart/xTeB2FRP/?symbol=CRYPTO%3ABTCUSD" target="_blank" rel="noreferrer noopener nofollow">trading</a> at $98,161.25, marking a notable 5.10% decline in a single day.&nbsp; Bitcoin’s market cap stands at $1.94 trillion.&nbsp; 
The 24-hour trading volume stands at&nbsp; $130.86 billion, up 17.68% from the previous day. The crypto market’s overall market cap now totals $3.57 trillion, down 2.69% in the last 24 hours. Bitcoin’s dominance has decreased by 1.53%, settling at 53.91%. 
Spot Bitcoin ETFs reported a sixth consecutive day of net inflows, with December 5 witnessing $767 million in total inflows. BlackRock’s <a href="https://thenewscrypto.com/blackrock-spot-bitcoin-etf-hits-50b-aum-holds-over-500k-btc/" target="_blank" rel="noreferrer noopener">IBIT ETF</a> led with $2.5 billion in five-day inflows and a single-day record of $771 million. These institutional inflows highlight sustained confidence in Bitcoin despite short-term volatility. 
Crypto liquidations hit $1.1 billion in the past 24 hours, the <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="noreferrer noopener nofollow">highest </a>since December 2021. Of this, $815 million stemmed from long positions and $280 million from short ones. Analysts attributed this drop to a leverage flush by larger holders. Retail traders’ excessive leverage during Bitcoin’s peak exacerbated liquidations, further pressuring the market. 
<h3 class="wp-block-heading" id="h-bitcoin-s-path-ahead">Bitcoin’s Path Ahead</h3> 
Technical indicators reveal Bitcoin’s Relative Strength Index (RSI) at 63.56, with its average at 66.91, signaling a moderately overbought zone. The Chaikin Money Flow (CMF) indicator remains positive at 0.12, reflecting steady buying interest.&nbsp; 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="472" src="https://thenewscrypto.com/wp-content/uploads/2024/12/BTCUSDT_2024-12-06_09-12-43-1024x472.png" alt="" class="wp-image-116859" srcset="https://thenewscrypto.com/wp-content/uploads/2024/12/BTCUSDT_2024-12-06_09-12-43-1024x472.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/12/BTCUSDT_2024-12-06_09-12-43-300x138.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/12/BTCUSDT_2024-12-06_09-12-43-768x354.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/12/BTCUSDT_2024-12-06_09-12-43-1536x708.png 1536w, https://thenewscrypto.com/wp-content/uploads/2024/12/BTCUSDT_2024-12-06_09-12-43.png 1814w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
</figure> 
Moving averages <a href="https://thenewscrypto.com/bitcoin-hits-100k-marking-new-milestone-in-crypto-history/" target="_blank" rel="noreferrer noopener">show</a> the price remains above the 50-day moving average but faces resistance at $100,000. Breaking this level could push Bitcoin to $110,000, while failing could test the $93,000 support. 
The recent plunge aligns with historical patterns in Bitcoin’s market cycles. Analysts note previous cycles have seen 1,065 days from market bottom to top and 1,430 days from bottom to the next bottom. If this repeats, Bitcoin could peak by October 2025. 
Despite short-term corrections, institutional demand and historical trends suggest long-term growth for Bitcoin. Investors continue to closely monitor macroeconomic factors and market indicators for further insights.&nbsp; 
Highlighted Crypto News Today <a href="https://thenewscrypto.com/mara-bitcoin-purchase-includes-another-1423-btc-worth-139-5-million/">MARA Bitcoin Purchase Includes Another 1,423 BTC Worth $139.5 Million</a>

Are Bears Gaining Control as Bitcoin Drops Below $100K?

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