2025-12-16 12:21:03

The market has been extremely cold in recent days. Bitcoin has not fallen below the $86,000 mark for the first time in two weeks and is now hovering around $85,800, with a 24-hour decline of over 4%. Ethereum also couldn't hold up and directly dropped below $3,000. Mainstream coins are collectively weakening, with the DePIN sector leading the decline, falling nearly 6%.

The chain reaction caused by this drop has been quite intense. The total liquidation of contracts across the network has soared above $600 million, with the number of accounts forcibly liquidated reaching 184,600, most of which were long positions being cut. The market's bloody atmosphere is quite heavy.

Why is this happening? Ultimately, it’s due to external pressure. The US stock technology sector has recently performed poorly, dragging down the overall risk asset sentiment, with cryptocurrencies bearing the brunt. Additionally, investors are now waiting for the release of key US inflation data, while the Bank of Japan is also studying whether to raise interest rates. These uncertainties have made the market more cautious. Liquidity is noticeably insufficient, and trading has become quiet.

Interestingly, even with the market so bad, listed companies like MicroStrategy continue to increase their Bitcoin holdings, seemingly confident in the long-term prospects. However, for most traders, the focus has shifted to this week's US CPI data and the Bank of Japan's decision, to see if these events can provide new guidance for the market.

BTC2,04%

ETH1,57%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

19 Likes

Reward
19
3
Repost
Share

Comment

0/400

AirdropHunterXM

· 2025-12-18 10:12

Oh my, this decline is really incredible. All long positions are completely trapped. --- MicroStrategy is still buying? Come on, institutions and retail investors are playing totally different games. --- Waiting for CPI data? Instead of waiting, it's better to get out now and save yourself. --- 600 million liquidation, 180,000 accounts wiped out—just hearing it hurts. --- I laugh at DePIN leading the decline. This sector really hasn't had a good time this year. --- When liquidity is insufficient, just go short and sit tight. Don't make reckless moves. --- It feels like whenever the US stock market sneezes, the crypto world catches a severe cold. --- Before the central bank decision is announced, this market is a ticking time bomb. --- Yesterday I was bragging to friends that I could buy in at 8.6, but today I got slapped in the face. --- Bitcoin's way of falling like this, any long-term confidence is pointless.

View OriginalReply0

SudoRm-RfWallet/

· 2025-12-16 12:51

18.46 thousand accounts were wiped out, this number makes my scalp tingle... Long players really got chopped this time. --- Waiting for the Federal Reserve and the Bank of Japan again, the market is now just reading faces to eat. --- Is MicroStrategy still accumulating Bitcoin? Is this guy truly a believer or just waiting to buy the dip? --- DePIN dropped 6% to lead the decline, ah this... I just bought a certain project token yesterday, I'm drunk. --- Lack of liquidity means no one dares to enter the market, everyone is afraid of catching the last wave. --- 600 million liquidation amount, how many leveraged traders does it take to pile up... or are these all contract traders' blood debts? --- Wait, Bitcoin at $85,800, is this really a bear market signal? --- US tech stocks dragging down crypto, I've heard this logic too many times... when will it finally move independently?

View OriginalReply0

DefiPlaybook

· 2025-12-16 12:27

180,000 accounts were wiped out, and that's why I only do liquidity mining and avoid contracts. --- MicroStrategy is still bottom-fishing? Honestly, their confidence is really strong, and I’m actually a bit worried. --- Waiting for data again. If CPI continues to fall that day, I’ll be laughing. --- DePIN leading the decline close to 6%? This sector is indeed a bit虚, I’ve said it before—don’t chase the hype. --- Insufficient liquidity and still pushing hard? Are you guys trying to pay gas fees or bottom-fish? --- Two weeks breaking below 8.6? I’m just waiting for this moment to see if there’s an arbitrage opportunity. --- The entire network lost 600 million in liquidation, with the most aggressive short positions being wiped out. That’s why I’ve always had doubts about derivatives protocols. --- US tech stocks are struggling, so we have to ride the wave of collapse here. Even impermanent loss isn’t a big deal anymore. --- If CPI is dovish, this wave will truly be the bottom. If it remains hawkish, then we’ll have to wait a bit longer.

View OriginalReply0