The crypto market is under renewed pressure as December begins, with $BTC ‌ falling below $86,000 and major altcoins posting heavy losses.

Liquidity remains thin after October’s volatility shock, and ETF flows continue to show hesitation from institutions. Elevated bond yields in Japan and global macro uncertainty are adding additional downside pressure.

More than 216,000 traders were liquidated in the past 24 hours, contributing to nearly $640 million in forced positions closed. Momentum remains weak unless strong buyers return or macro conditions stabilize.