Crypto markets saw a sharp sell-off on Monday, wiping out $136 billion in value as Bitcoin slipped below $88,000. The drop triggered $381 million in leveraged liquidations, underscoring the ongoing volatility driven by leverage. Total market cap fell 3.7% to $2.93 trillion, with Ethereum down 6.1% and altcoins following. By contrast, the S&P 500 dipped just 0.3%. Analysts say the market remains range-bound, with $3.2T as resistance and $2.85T as key support, echoing past correction phases.

For only the fourth time in Bitcoin’s history, the BTC-to-Gold RSI has dropped below 30—a level that previously marked major bottoms in 2015, 2018, and 2022. While not a guarantee, it suggests a clear imbalance. This time, gold appears stretched relative to Bitcoin. The gap from the 20-week moving average is also unusually wide. History may not repeat, but when this signal appears, it often points to an upcoming rotation.

Ripple CEO Brad Garlinghouse has slammed The New York Times for what he calls a “hit piece” targeting the SEC’s new leadership. The report suggests crypto cases are being dropped due to political favoritism, but Garlinghouse says that misses the point. According to him, the real story is the rollback of Gary Gensler’s “illegal” enforcement-first approach—something Ripple and the broader crypto industry have long challenged. $XRP

Crypto markets may face another sharp drop in December as Japan is expected to raise interest rates again. Higher rates unwind the yen carry trade, forcing investors to sell assets, including crypto. Past hikes in 2024 and 2025 saw Bitcoin fall nearly 25%. A similar move could spark fast sell-offs and volatility. However, with Japan’s economy weak and global liquidity slowly improving, this drop could mark a final bottom before a stronger 2026 rally.

Bitcoin price is down today, and the reason is simple: China. Authorities tightened rules on domestic Bitcoin mining, forcing major shutdowns in regions like Xinjiang. Around 400,000 miners went offline in December, pushing the network hashrate down nearly 8%. When miners lose revenue, many are forced to sell BTC to cover costs or relocate, creating short-term sell pressure. This isn’t a demand problem or a long-term threat just a temporary supply shock.