Crypto is trading lower today as a broad risk-off mood hits high-beta assets.
At the time of writing, Bitcoin has slipped to around $86,302 and Ethereum is near $2,934, with major altcoins following the move down. This drop has been accompanied by a wave of forced liquidations, with reports estimating over $500M in bullish bets wiped out across derivatives venues. A CoinDesk market update and an Economic Times recap both point to liquidation-driven selling as a key accelerant behind today’s slide.
For the broader macro backdrop, a Reuters global markets wrap highlights investors turning cautious ahead of key U.S. data releases and multiple central bank decisions this week, a setup that typically pressures risk assets like crypto.
Below is a quick snapshot of major assets and their approximate daily moves.
| Asset | Price | 24h Change |
|---|---|---|
| BTC | $86,302 | -3.93% |
| ETH | $2,934 | -6.57% |
| SOL | $126.32 | -4.54% |
| XRP | $1.88 | -6.00% |
| BNB | $858.56 | -3.45% |
| ADA | $0.382 | -4.86% |
| DOGE | $0.129 | -5.55% |
When global markets get nervous, crypto often sells first.
Reuters notes that investors are positioned cautiously ahead of U.S. jobs and inflation data, while multiple central banks are also in focus. This kind of week tends to reduce risk appetite, especially for assets that already had a strong run.
The market also continues to digest the Federal Reserve’s most recent rate decision. Reuters reported the Fed cut rates but signaled a slower path ahead, which can dampen the easy “rates down = everything up” narrative in the short term.
Today’s drop has classic derivatives fingerprints.
Once Bitcoin slips through a key level, highly leveraged longs get forced out, which adds more sell pressure, which triggers more liquidations. CoinDesk estimated more than $500M in bullish liquidations, while Economic Times pegged the figure closer to $592M, showing how fast the cascade built.
If you want to track this yourself, liquidation dashboards like CoinGlass give a real-time view of where longs are being wiped.
One of the biggest differences between a controlled dip and a deeper correction is whether spot demand shows up.
Recent data from Farside Investors shows net outflows on the latest reported day (Dec. 15), with total Bitcoin ETF flows down roughly $358M. When flows are negative or inconsistent, it is harder for the market to absorb liquidations and profit-taking.
Altcoins usually behave like leverage on top of Bitcoin.
That is why assets like Solana, XRP, BNB, Cardano and Dogecoin can drop several percent even when Bitcoin is “only” down a few.
The next move is likely to be decided by a few simple signals.
Crypto is down today because several forces hit at once: macro risk-off sentiment, a liquidation cascade in leveraged derivatives, and uneven ETF flows.
Bitcoin slipping under 90k set the tone, and major altcoins are bleeding harder because they are more sensitive to liquidity and sentiment. Whether this turns into a deeper correction or a quick reset will likely come down to how fast liquidations fade, whether spot buyers step in, and whether ETF flows flip back to consistent inflows.
The post Why Is Crypto Market Down Today? Bitcoin And Major Alts Are Bleeding appeared first on Crypto Adventure.
Also read: Crypto Winter 2.0? Evaluating Whether A Downtrend Is Starting
