Over the past 24 hours, following a 36-hour market lull, crypto assets began to falter, stumbling under the short-term bottoms they established in the days prior. This continued tumultuous movement has seen the aggregate value of all cryptocurrencies collapse by $10 billion, moving under $129 billion for the umpteenth time in weeks. Interestingly, unlike the moves the crypto market underwent throughout November, Monday’s downturn was backed by relatively little volume, a mere $14 billion ($7.2 billion adjusted), which was a far cry from the ~$21 billion (~$10.5 billion adjusted) experienced during crypto’s jaw-dropping sell-off on November 24th.
This recent bout of selling pressure, catalyzing a growing sense of uncertainty, sent Bitcoin (BTC) freefalling under $4,000, a move that came after bulls put up a fight above $4,100 for over 36 hours. At the time of writing, BTC has found itself at $3,850, down a hefty 6.8% in the past day alone.