Price Flash Crash: Bitcoin plunged below $89,000 at midnight, hitting a low of $88,300, with a 24-hour decline of about 4.17%, reaching a new low since August; Ethereum also fell below $3,200, with a maximum daily drop exceeding 7%, while major altcoins fell by over 5%. Liquidation Carnage: Over 210,000 people were liquidated across the network in the past 24 hours, with a total liquidation amount of approximately $1.09 billion, marking the worst record of the month, including $816 million in long position liquidations, with the largest single liquidation reaching $18 million. Macroeconomic Triggers: Expectations for a Federal Reserve rate cut have dropped sharply, the dollar index has strengthened, and institutional investors concentrated their selling above $100,000, leading to short-term plunges due to profit-taking. Regulatory Dynamics: Binance will delist five tokens—GFT, IRIS, KEY, OAX, and REN—on December 10, and shut down related trading pairs, triggering a price drop of 30%-37%. Institutional Voices: Galaxy Digital founder Novogratz stated that Bitcoin may bottom out at $80,000, with hopes of returning to $100,000 by the end of the year, but short-term high leverage liquidations have not yet ended! $BTC