Why Did Bitcoin's Price Drop on Dec. 11th? 📉
Bitcoin's price #fell below $41,000 on Dec. 11, dropping 6.5% in 20 minutes from $43,357. Ethereum also declined by 8.9%.
This abrupt plunge caused $270 million in #liquidated positions and wiped out $1.2 billion in open interest.
Despite growing 12% in 30 days, this was Bitcoin's largest single-day decline in a month.
The surge this year, up 150%, was fueled by expectations of SEC-approved #Bitcoin ETFs and anticipated interest rate cuts by the Federal Reserve. Analysts await inflation data and the year's final FOMC meeting.
