🔥🔥Crypto Market Shock in 24 Hours: Bitcoin Falls Below $89,000, 100,000 People Liquidated! Regulatory and Interest Rate Cut Expectations Stir the Market
On December 7th, the crypto market experienced intense turbulence, with Bitcoin rapidly dropping below the $89,000 mark from the $90,000 level, a decline of nearly 29% from the yearly high of $126,000. Mainstream cryptocurrencies like Ethereum and SOL saw their trading volumes halved, with declines exceeding 50%.
According to Coinglass data, over 100,000 people suffered liquidations in the past 24 hours, with the total amount reaching $114 million, and the battle between bulls and bears has intensified. Behind the market volatility, the Federal Reserve's interest rate cut expectations for December have become a key variable—CME FedWatch data indicates that the probability of a rate cut has reached 87%, with institutions like Morgan Stanley and JPMorgan adjusting their forecasts. The former predicts a 25 basis point cut, while the latter is bullish on Bitcoin rising to $170,000 in the next 6-12 months.
Meanwhile, the new regulatory policies jointly issued by 14 ministries continue to ferment: stablecoins are clearly defined as virtual currencies, cross-border trading and token financing behaviors are delineated as illegal, while the licensed pilot program in Hong Kong and the compliant ecosystem for digital yuan are accelerating into reality. 420 million people have opened digital yuan wallets, and cross-border settlement scenarios cover major projects like the China-Kyrgyzstan-Uzbekistan railway.
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