Bitcoin Slides to $100K, Crypto Stocks Eviscerated as Liquidity Crunch Hammers Risk Markets
Bitcoin fell below $101K alongside broad risk assets due to fading expectations of a December Fed rate cut.Summary
Bitcoin (BTC) and the broader crypto market experienced significant declines during U.S. trading hours, with BTC barely holding above $100,000, down over 1% in 24 hours. This retreat coincided with a steep drop in risk assets, as investors reacted to the Federal Reserve appearing unlikely to cut interest rates in December; the Nasdaq fell 2% and the S&P 500 dropped 1.3%. Crypto-linked equities, particularly miners with AI infrastructure exposure like Bitdeer and Bitfarms, suffered heavy losses, plunging 19% and 13% respectively. A market strategist noted that crypto is now closely linked to macroeconomics, suggesting that the 2025 peak for BTC may already be in, with muted performance expected for the remainder of the year.
(Source：CoinDesk)