瑞曜金
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Full Analysis of the Reasons for Bitcoin's Crash at 8 AM on 12.01
Core reason for the crash: Multiple negative factors resonating, triggering a high leverage liquidation
1. Crash Situation
- Time: 8 AM (Beijing Time) on December 1, 2025
- Magnitude: Bitcoin price plummeted from 93,000 to 88,500, a decline of 4.3% within 1 hour
- Chain Reaction: Ethereum fell over 5%, Binance Coin dropped 7%, the entire cryptocurrency market evaporated nearly 20 trillion RMB in 24 hours, 220,000 people were liquidated, with a liquidation amount of 12.2 billion
2. Direct Trigger: High Leverage Chain Liquidation
After Bitcoin's price broke below the key technical support level of 90,000, it triggered forced liquidation of over 15 billion in leveraged positions, creating a "long squeeze" effect. The leverage ratio in the crypto market has long remained high (over 90% of liquidated positions used more than 10 times leverage). Once the price drops by 5-10%, programmatic liquidation orders flood in, creating a vicious cycle of "decline → liquidation → accelerated decline."
1. Crash Situation
- Time: 8 AM (Beijing Time) on December 1, 2025
- Magnitude: Bitcoin price plummeted from 93,000 to 88,500, a decline of 4.3% within 1 hour
- Chain Reaction: Ethereum fell over 5%, Binance Coin dropped 7%, the entire cryptocurrency market evaporated nearly 20 trillion RMB in 24 hours, 220,000 people were liquidated, with a liquidation amount of 12.2 billion
2. Direct Trigger: High Leverage Chain Liquidation
After Bitcoin's price broke below the key technical support level of 90,000, it triggered forced liquidation of over 15 billion in leveraged positions, creating a "long squeeze" effect. The leverage ratio in the crypto market has long remained high (over 90% of liquidated positions used more than 10 times leverage). Once the price drops by 5-10%, programmatic liquidation orders flood in, creating a vicious cycle of "decline → liquidation → accelerated decline."
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