On December 6, Bitcoin plummeted, briefly falling to the $90,000 mark. As of 7:21 AM, it was reported at $97,023.5, down nearly 1.8% for the day.

CoinGlass shows that in the last 24 hours, a total of 210,800 people across the network have been liquidated, with a total liquidation amount of $1.09 billion.

It is noteworthy that on December 5, Bitcoin broke through the $100,000 mark.

According to Caixin, American billionaire and well-known cryptocurrency investor Michael Novogratz has told the media that Bitcoin is breaking through a series of records and reaching new highs, and investors should prepare for a brief pullback.

He admitted that it is "inevitable" for Bitcoin to touch $100,000, but as investors unwind leveraged bets, it could fall back by as much as 20%.

Novogratz is the founder and CEO of the cryptocurrency commercial bank Galaxy Digital. "There is a lot of leverage in the current system," he said, "the leverage in the cryptocurrency community has reached its limit, so an adjustment will occur."

Novogratz pointed out that the price of Bitcoin could fall to $80,000 per coin—he believes this will be the absolute bottom. Based on a $100,000 valuation, Novogratz thinks the upcoming adjustment for Bitcoin could reach as much as 20%.

In the face of potentially massive volatility after Bitcoin's breakthrough, some investors have chosen to take profits early.

On the evening of December 4, Meitu Inc. (01357.HK) announced that it would start selling the cryptocurrencies it had purchased on the market beginning in November 2024.

As of December 4, 2024, the company has sold all of its purchased cryptocurrencies, totaling approximately 31,000 units of Ether and 940 units of Bitcoin. This transaction's total cash consideration was approximately $100 million and $80 million, respectively.

Meitu Inc. stated that the company has gained significant profits from the sale of cryptocurrencies, with profits amounting to approximately $79.63 million (equivalent to about 571 million RMB).

Regarding the purpose of purchasing cryptocurrencies, Meitu stated at the time that the board believed cryptocurrencies have sufficient appreciation potential, and by allocating part of the cash reserves to cryptocurrencies, it can diversify the risk of holding cash in fund management while also demonstrating the company's ambition and determination to embrace technological innovation to investors.#比特币今晨触及90.5K