FIL Token Faces 2.07% Drop as Short Liquidations and Lower Volume Drive Bearish Momentum

FILUSDT experienced a 2.07% decrease over the last 24 hours, with the price dropping from 1.306 to 1.279, as reported by Binance. This decline can be attributed to continued bearish sentiment following earlier short liquidations in the 1.308–1.343 range, along with recent bearish technical patterns and consolidation observed throughout December. Despite a brief bullish breakout above $1.29 on December 22, increased short covering activity and a reduction in overall trading volume have reinforced downward pressure. The current market price stands at 1.279, with 24-hour volume on Binance reaching 8.76 million FIL (11.45 million USDT), and Filecoin maintaining a market capitalization between $913.08 million and $1.48 billion. Trading activity remains concentrated on major exchanges, with recent fluctuations reflecting both technical rebounds and persistent bearish trends.