Terrible! Bitcoin plunged 20% in 24 hours: 14.2 billion funds were liquidated, and the largest longs were still buying at high prices. According to the daily economic news, market data showed that the Bitcoin index once hit a low of 42,587.8 US dollars per coin, with a maximum drop of 20% in 24 hours. The maximum drop of Bitcoin against the US dollar in 24 hours was 28.46%, reaching a low of 40,681.80 US dollars per coin.
As of now, the Bitcoin index is at $47,095 per coin. Ethereum fell below $3,500, with a 24-hour drop of more than 21%. In the past hour, the total liquidation of the contract market was $1.13 billion, and the liquidation in 24 hours was $2.23 billion (about 14.2 billion RMB).
After entering December, the cryptocurrency market continued to fall. On December 1, the highest price of Bitcoin reached $59,000, close to the high of $60,000. But since then, the waterfall market has begun.
On December 3, Bitcoin fell more than 12% in a day, a drop of more than $5,000, hitting a low of around $51,600 and beginning to fall below the $50,000 mark.
On December 4, Bitcoin did not stop its downward trend. After falling below the $50,000 mark, it briefly plunged to around $42,000, with a daily drop of more than $10,000, hitting the lowest price since September 30.
Previously, the price of Bitcoin hit a record high in November, breaking through $69,000, and the overall market value of cryptocurrencies climbed to around $3 trillion. But after failing to break through the $70,000 mark, the price trend of Bitcoin was obviously weak.
Ethereum, the world's second largest cryptocurrency, followed Bitcoin in its decline. Its current price has fallen by nearly 20% from its historical high of $4,898, but its volatility is smaller than that of Bitcoin.
It is worth noting that recently, Huobi, a cryptocurrency trading platform that had previously announced the withdrawal of users from mainland China, began to issue in-site letters to remind mainland Chinese users to withdraw their account assets, and clearly stated that the deposit function for mainland Chinese users will be closed on December 14.
On December 15, the currency-to-currency trading function will be banned for users in mainland China, and on December 31, OTC trading will be removed.
It is worth noting that while the price of Bitcoin has been volatile, the listed companies with the largest Bitcoin holdings in the world and the Bitcoin "whales" have been buying large quantities.
According to documents MicroStrategy submitted to the U.S. Securities and Exchange Commission (SEC) on Monday, the company purchased 7,002 bitcoins in October and November, spending $414 million at an average price of $59,187 per bitcoin.
After completing this "purchase", the total number of bitcoins held by MicroStrategy has exceeded 120,000.
According to statistics from OKEx Chain's Chain Master, as of December 3, 2021, MicroStrategy held a total of 121,000 bitcoins with a total value of US$6.841 billion.#Babymarvin合约地址f9c7值得拥有 
