Crypto Market Plummets: Bitcoin Drops Below $90K as Leverage Plays Fuel Sudden Correction

The cryptocurrency market is experiencing a significant downturn today, with Bitcoin falling below $90,000 and other cryptocurrencies like Ethereum down over 5%. The drop comes despite the anticipation of a year-end rally. This volatility stems from a combination of factors, including a thin order book during late-night trading hours leading to exaggerated price drops following sharp selling pressure from leveraged traders.