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Bitcoin drops sharply below $86,000 as aggressive selling by medium-term holders triggers market-wide correction
Crypto markets faced a steep decline on November 21 as Bitcoin fell more than 7.2% and slipped under $86,000, pulling the overall market down over 7% in 24 hours. Ethereum dropped around 7.4% to $2,800, while major Layer-1, DeFi and Layer-2 tokens recorded double-digit losses, including names such as NEAR and SOON. VanEck’s latest analysis attributes the downturn to heavy liquidation by medium-term holders, who reduced their coin supply by 32% over two years.
The rapid unwinding pushed open interest lower, led to falling funding rates and caused a sharp risk-off shift across the market.
Tags:
- crypto
- Bitcoin
negative
Bitcoin drops sharply below $86,000 as aggressive selling by medium-term holders triggers market-wide correction
Crypto markets faced a steep decline on November 21 as Bitcoin fell more than 7.2% and slipped under $86,000, pulling the overall market down over 7% in 24 hours. Ethereum dropped around 7.4% to $2,800, while major Layer-1, DeFi and Layer-2 tokens recorded double-digit losses, including names such as NEAR and SOON. VanEck’s latest analysis attributes the downturn to heavy liquidation by medium-term holders, who reduced their coin supply by 32% over two years.
The rapid unwinding pushed open interest lower, led to falling funding rates and caused a sharp risk-off shift across the market.
Tags:
- crypto
- Bitcoin
1 min read
94 words
Bitcoin fell below $86,000 as medium-term holders sold aggressively, triggering broad losses across crypto assets and signaling potential deeper downside risk.
Crypto markets faced a steep decline on November 21 as Bitcoin fell more than 7.2% and slipped under $86,000, pulling the overall market down over 7% in 24 hours. Ethereum dropped around 7.4% to $2,800, while major Layer-1, DeFi and Layer-2 tokens recorded double-digit losses, including names such as NEAR and SOON. VanEck’s latest analysis attributes the downturn to heavy liquidation by medium-term holders, who reduced their coin supply by 32% over two years.
The rapid unwinding pushed open interest lower, led to falling funding rates and caused a sharp risk-off shift across the market.
Crypto markets faced a steep decline on November 21 as Bitcoin fell more than 7.2% and slipped under $86,000, pulling the overall market down over 7% in 24 hours. Ethereum dropped around 7.4% to $2,800, while major Layer-1, DeFi and Layer-2 tokens recorded double-digit losses, including names such as NEAR and SOON. VanEck’s latest analysis attributes the downturn to heavy liquidation by medium-term holders, who reduced their coin supply by 32% over two years.
The rapid unwinding pushed open interest lower, led to falling funding rates and caused a sharp risk-off shift across the market.
Tags:
- crypto
- Bitcoin
- crypto
- Bitcoin
- Ethereum
- market correction
- digital assets