Crypto Market Volatility
The sector saw sharp fluctuations, with Bitcoin dipping 1.8% toward $90,000 and Ethereum sliding 1.2% to around $3,120. Total market cap dropped over 1% to $3.08 trillion, fueled by extreme fear—the Fear and Greed Index hit 19. Traders braced for the FOMC meeting, amplifying volatility.
This led to massive liquidations, wiping out nearly $2 billion in positions, per Coinglass data. Longs bore the brunt, as sudden dips forced over 390,000 traders out, highlighting overleveraged bets.
Politically, the U.S. government shutdown resolved, sparking optimism as it erodes fiat trust and drives crypto adoption. The Blockchain Association's Policy Summit on Dec 8-9 pushed for clearer regs, while Trump's nods to crypto in 401(k)s signal pro-industry vibes. These could stabilize prices long-term, countering short-term jitters from economic uncertainty.
Overall, it's a mixed bag—pain now, but potential upside ahead.
Stay tuned for tomorrow’s pulse!
