This article first appeared on GuruFocus.
The crypto market opened December with the kind of sharp reversal investors had hoped was behind them, as Bitcoin (BTC-USD) fell as much as 6% to below $86,000 in early Asia trading and pulled Ether and Solana into deeper losses. The move lands just weeks after roughly $19 billion in levered bets were wiped out in early October, a shock that hit days after Bitcoin touched its record high of $126,251. Even after shedding 16.7% in November, Bitcoin briefly reclaimed levels above $90,000 last week, but traders now say the rebound could be fading. Sean Mc
The crypto market opened December with the kind of sharp reversal investors had hoped was behind them, as Bitcoin (BTC-USD) fell as much as 6% to below $86,000 in early Asia trading and pulled Ether and Solana into deeper losses. The move lands just weeks after roughly $19 billion in levered bets were wiped out in early October, a shock that hit days after Bitcoin touched its record high of $126,251. Even after shedding 16.7% in November, Bitcoin briefly reclaimed levels above $90,000 last week, but traders now say the rebound could be fading. Sean Mc
2 months ago
