Crypto Market Bombshell! BTC Crashes to 90k+ and 170k Liquidations, JPMorgan Targets 170k 💥
In the last two days, the crypto market has completely opened the “blind box,” with regulatory crackdowns, plummeting prices, institutional infighting, and cryptocurrency volatility, each development overturning expectations. Swiftly understand the situation below 👇
🚨 Regulatory + Market Double Whammy! 130,000 Liquidations Worth 400 Million
Seven major associations in China have joined forces to issue red cards, directly blocking virtual currency trading, financial support, and promotional channels, clearly warning that “high returns are traps.” Following the negative news, the market crashed directly—BTC fell over 4% within the day, breaking the 90k mark to plummet to 88k, and ETH futures dropped over 4%. In just 24 hours, 133,000 people were liquidated, with a total of 425 million dollars in liquidations, and 80% of long positions were liquidated, leading to a bloodbath for high-leverage players.
💰 Institutional Split! Sovereign Funds Bottom-Fishing vs. BlackRock Bleeding
The divergence in institutional movement is stark! BlackRock’s BTC ETF has seen outflows for five consecutive weeks, totaling over 2.7 billion dollars, leading to a cautious short-term attitude from institutions. On the other hand, sovereign wealth funds are going on a buying spree during the dip, making large purchases when BTC fell to 80k. Even more exciting, the U.S. CFTC has given the green light, allowing spot cryptocurrencies to be listed on futures exchanges, with Bitnomial launching leveraged spot trading on December 8, adding variability to the compliant track.
🚀 Cryptocurrency Polarization! ZEC Soars 13% while ICP Crashes 64%
Privacy coin ZEC has emerged as the biggest dark horse, soaring 13% to 347 dollars in just 24 hours, thanks to large holders driving the price up—there are not only well-known traders using 10x leverage on long positions but also whales accumulating 4.49 million USDC. However, ICP has completely tanked, falling from 9.62 dollars to 3.5 dollars, dropping over 6% in 24 hours, evaporating 64% of its market value in two months. The SOL ecosystem rose 1.8% against the trend, and XRP ETF saw a net inflow of 12.8 million, with altcoins diverging dramatically.
🌍 Disrupting Perceptions! BTC Breaks 10-Year Correlation with Stock Market + JPMorgan Targets 170k
Two key changes are rewriting the playbook: first, BTC has completely decoupled from the stock market, with the S&P 500 rising over 16%, while BTC fell 3%, marking the first occurrence in ten years of “stock market up, crypto market down”; second, JPMorgan has aggressively announced a target price of 170,000 dollars, stating that based on gold valuation logic, it could rise 84% in the next 6-12 months, yet the current coin price is only 88k, creating a doubling gap.
