Crypto Market Plunges on Bearish Sentiment as Bitcoin Drops Below $87,000

The cryptocurrency market experienced a sharp decline at the start of December, with major cryptocurrencies experiencing heavy losses. Major currencies like Bitcoin (BTC) and Ethereum (ETH) suffered significant drops attributed to factors such as low liquidity, leveraged positions, and high sell-offs. This led to a substantial drop in the overall market capitalization, which has fallen below $3 trillion. Bitcoin notably reached a low of $85,732 before rebounding, while ETH slumped below $3,000. Other altcoins such as Solana (SOL), Cardano (ADA), and Ripple (XRP) also saw substantial losses in the week.