𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗗𝗶𝗽𝘀 𝗕𝗲𝗹𝗼𝘄 $𝟴𝟲𝗞 𝗮𝘀 𝗗𝗲𝗰𝗲𝗺𝗯𝗲𝗿 𝗦𝗲𝗹𝗹𝗼𝗳𝗳 𝗛𝗶𝘁𝘀 𝘁𝗵𝗲 𝗖𝗿𝘆𝗽𝘁𝗼 𝗠𝗮𝗿𝗸𝗲𝘁

Bitcoin slipped under $87,000 on Monday, marking its sharpest pullback in weeks as a fresh wave of volatility swept through the market. The drop erased last week’s gains and signaled renewed selling pressure across major assets.

During early Asian trading, BTC tapped an intraday low around $86,125, triggering over $400 million in leveraged liquidations. The sudden flush wiped roughly 4% off the total crypto market cap, now sitting near $3 trillion. It’s clear many traders were positioned for a bounce—and the market caught them sleeping.

Major tokens extend their declines as November’s losses deepen market fragility
Ether slid more than 6% below the $2,900 zone, while Solana also dropped nearly 7%, following the same weakness across the majors.

This latest move comes right after a brutal November, where Bitcoin closed the month down 18%—its worst performance since March. This was despite a strong rebound from the $80,000 region back above $90,000. ETH performed even worse, closing November with a 22% loss.

Market sentiment remains shaky after nearly $19 billion in leveraged positions were wiped out in early October, just days after Bitcoin tapped its all-time high near $126,251. $BTC fell again in November, briefly stabilized above $90K last week, and has now slipped back as sellers regain control.

Sean McNulty, APAC derivatives trading lead at FalconX, noted:
“It’s a risk-off start to December. Weak ETF inflows and the lack of aggressive dip-buyers remain the biggest concerns. We’re watching the $80,000 level as the next major support.”

ETF inflows weaken and stability concerns add to sell pressure
Investor nerves were shaken further after Strategy Inc. CEO Phong Le said the company would sell Bitcoin if its mNAV (enterprise value relative to Bitcoin holdings) dropped below 1. Strategy currently holds a massive $56B worth of BTC, and its mNAV has already fallen to 1.19.

Adding more pressure, S&P Global Ratings downgraded its stability outlook on USDT last week, warning that a deeper BTC decline could stress its collateralization. Tether CEO Paolo Ardoino fired back, saying Tether remains fully overcapitalized and that traditional finance critics underestimate what the company has built.

Macro outlook could shape the next major BTC move
This week is important for gauging US economic momentum as policymakers evaluate rate-cut expectations heading into 2026. The data could heavily influence the Federal Reserve’s next steps. President Donald Trump also said he has chosen his nominee for the next Fed chair—hinting he wants someone supportive of lower rates.

Asian equities were mixed on Monday, even after their strongest week in two months. Japanese stocks slipped while the yen strengthened following comments from Bank of Japan Governor Kazuo Ueda, who hinted at a potential rate hike this month.

$BTC
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