$BTC The cryptocurrency market has fallen by 1.93% over the past 24 hours, and over the past 30 days, the decline has reached 11.86%. This drop is associated with a combination of technical pressure, outflows of institutional investments, and general caution amid macroeconomic risks.
1. Expiration of options on Bitcoin – options on BTC worth $3.4 billion expired, which increased volatility.
2. Outflow from ETFs – on December 4, there was a net outflow of $194.6 million from the Bitcoin ETF.
3. Technical breakdown – BTC could not hold above $93K and is testing support at $88K.

The current decline is caused by a combination of volatility from derivatives, profit-taking by institutional investors, and breaking through technical support levels. Traders should watch whether BTC will hold support at $88K and whether flows into ETFs will stabilize. With the correlation of the crypto market with Nasdaq at -0.04 (over 24 hours), further market movement will depend more on internal factors, such as inflows into ETFs and deleveraging, than on traditional stock indices. The question is whether the fear and greed index can bounce back from annual lows or if this is the beginning of a deeper correction?

BTC

92,400.57

+1.17%