News

🪨 BlackRock Bitcoin ETF Inflows Surge Despite BTC Price Crash to $94K

BlackRock Bitcoin ETF (IBIT) has decided to look past the crypto market volatility recording massive $358 million inflows on Monday. Despite the BTC price drop to $94,000 levels, IBIT continued with its dominant inflows yesterday. Following rejection at $100K levels, Bitcoin dropped over 5% dragging altcoins lower leading to the flush-out of leveraged positions.

🌐 Can Google Willow Quantum Chip Take Down the Bitcoin Network?

Tech giant Google took the world by storm on Monday by unveiling its quantum computing chip – Google Willow – while raising doubts on whether it can break the Bitcoin network in the future. For years, concerns have stayed that quantum computing is a threat to blockchain technology. While analyzing the prowess of Google’s computing chip, market analysts noted that it doesn’t pose any threat to the Bitcoin network in the near future.

⚡️ Bitcoin Miner MARA Acquires 11,774 BTC For $1.1 Billion

Bitcoin miner MARA has announced the purchase of 11,774 BTC for $1.1 billion, bringing its total Bitcoin holdings to 40,435 BTC. The Bitcoin miner is the public company with the second largest Bitcoin holdings, and this announcement comes just a day after MicroStrategy, the public company with the largest BTC holding, announced another purchase.

[SPONSORED] 🔥 Pepe Unchained comes close to listing, Pepeto gets ready for utility-centered growth

With only 10 days remaining for its official listing, Pepe Unchained continues to attract attention for its layer 2 technology designed for improving scalability and transaction speed. Concurrently, Pepeto is building momentum with its utility driven approach.

Markets

📊 Cryptocurrency Market Today Dec 10: BTC Fell Below $95K, Altcoins Crashed

Today, the cryptocurrency market witnessed a sharp price decline, with Bitcoin (BTC) price trading below $95,000. Major altcoins like Ethereum (ETH), XRP, Solana (SOL), and Binance Coin (BNB) saw their prices crash to week lows. When writing, UNUS SED LEO (LEO) was the only top gainer, showing just a 2% increase over the last 24 hours. The market crash led to liquidations worth $1.46 billion in the past 24 hours.

The global cryptocurrency market today recorded an approximate 5% decline, bringing the market capitalization to $3.46 trillion. Despite the drop, trading volumes surged by 107%, reaching $324 billion. The Fear and Greed Index shifted to 76, indicating greed compared to the previous state of extreme greed.

⚠️ Altcoins Crash Trigger $1.76 Billion in Crypto Liquidations, What’s Next?

Following the Bitcoin price drop under $95,000 earlier today, altcoins like Ethereum (ETH), Solana (SOL), XRP, and Dogecoin (DOGE) have corrected anywhere between 6-12% each leading to crypto liquidations surging above $1.76 billion. With Bitcoin encountering repeated rejections at the $100K level, investors are left wondering if the altcoin rally is coming to an end.

📈 Will Bitcoin Price Recover After $1.7 Billion Liquidation Event?

Bitcoin (BTC) price has slipped below key trend line, suggesting the end to the short-term consoldiation. This drop signals the start of a correction and is likely to take BTC much lower before a recovery rally emerges. Let’s take a look at technicals, futures data and on-chain metrics to see what Bitcoin might do next.

Before we step into any aspect of our analysis, let’s explore why Bitcoin crashed.