Bitcoin Price Crashes Again on Dec 1; ETH Down 27% This Month, Market Cap Suffers Heavy Blow

As the month of December began, the crypto market experienced another round of heavy corrections today, with major cryptocurrencies like bitcoin, ethereum, solana, dogecoin, and cardano trading deep in the red. The latest cryptocurrency price crash has pushed overall investor sentiment into a risk-off zone as profit-booking is weighing on the digital assets.

"Bitcoin has pulled back over 4% to around $87,300 as traders turn cautious ahead of Jerome Powell's remarks later today, which could shape expectations for the upcoming FOMC meeting. Despite the pause in momentum, Bitcoin ETFs have posted their first week of net inflows since October, signalling a potential revival in institutional demand. Strengthening liquidity and improving market depth also support a constructive outlook." said Akshat Siddhant, Lead Quant Analyst, Mudrex

Bitcoin Price Today Falls Below $85k

Bitcoin price today dropped by 5.58% in the last 24 hours, slipping to $85,825.62, bringing its weekly losses to 2.82% and monthly losses to a sharp 22.09%.

"BTC pulled back below $88K after hitting a large liquidation cluster under $90K. Once that cluster was triggered, liquidity thinned and the price dropped quickly toward $87K, where it is now attempting to establish support. Prior to the drop, BTC had been trading in a tight $91K-$92.5K range, showing reduced volatility. BTC has now cleared major long liquidations, and holding $86K-$87K keeps the door open for a move toward $89K-$90K." as per the CoinSwitch Markets Desk

Ethereum Price Drops Below $2,900

The second-largest cryptocurrency, Ethereum (ETH), slipped 6.28% in a single day, falling to $2,811.97. Its 7-day losses stand at 4.81%, while the 30-day drop has widened to a massive 27.47%. With a market cap of $339.71 billion and a trading volume of $9.52 billion, ETH continues to lose ground as investors shift away from high-beta assets.

Altcoins Bleed: XRP, BNB, Solana, Tron, Dogecoin, and Cardano Extend Losses

Most major altcoins underwent double-digit losses this month:

XRP, or Ripple coin, price crashed to $2.05, dropping by 7.19% in 24 hours and by 18.67% over the month.

BNB (Binance Coin) fell to $824.75, with daily losses of 5.69% and monthly losses of 24.67%.

Solana (SOL) price plunged to $126.89, sliding 7.02% today and a massive 32.03% in 30 days due to heavy liquidation.

TRON (TRX) was comparatively resilient at $0.2765, down 1.31% in 24 hours but still holding a positive weekly gain.

Dogecoin (DOGE) tumbled 7.96% to $0.1375.

Cardano (ADA) dropped nearly 7.69% today and 37.12% over the month, falling to $0.3861, one of the steepest declines among the top 10 coins.

Stablecoins USDT & USDC Price

Unlike the broad market slide, stablecoins Tether (USDT) and USD Coin (USDC) held stable at $1.00 and $0.9998, respectively. USDT recorded minimal price movement at 0.02%, while USDC remained nearly flat at 0.01%.

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