#Large-scale sales hit the #crypto.market ... and Bitcoin is heading to $40,000.

_#Bitcoin fell significantly during the past few hours of trading on Monday, towards the $40,000 level, presenting another bout of its notorious volatility amid widespread selling of digital currencies. The largest coin fell 7.5% to $40,521 before paring some losses to trade nearly 4% lower above the $42,000 level.

Smaller cryptocurrencies such as #Ethereum.Ripple,Cardano,.and.Polka Dot also declined. The index of the 100 largest digital assets lost about 4%, the largest decline since November 22. Bitcoin has gained further strength this year on expectations that regulators will give the green light to the first U.S. exchange-traded funds to invest directly in the token, expanding the potential base of cryptocurrency investors. Bets that the Fed will cut interest rates in 2024 have also encouraged a rally in Bitcoin and cryptocurrencies in general. Coinglass data shows that nearly $312 million worth of cryptocurrency trading positions betting on rising prices were liquidated on December 11, the highest such number since at least mid-September. .

$BTC $ETH $XRP

#FollowUsNow To see more breaking news 💵✅🚀