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The <a href="https://cryptoticker.io/en/token/">crypto market</a> faced a sharp downturn in the last 24 hours, with $Bitcoin dropping 5% and dragging the rest of the market into deep red territory. Fresh fear entered the market after large whale wallets liquidated high-volume positions, and China issued its strongest anti-crypto <a href="https://cryptoticker.io/en/china-says-crypto-is-illegal-and-flags-stablecoin-threats/">statement</a> in years, reminding the world that crypto trading remains illegal on the mainland — and specifically flagging stablecoins as a systemic threat.
With panic spreading, major altcoins followed Bitcoin’s move, recording losses across the board. Below is a full breakdown of what happened, complete with chart analysis and a full 24-hour performance recap of the top 10 cryptocurrencies.
<h2 id="strong-bitcoin-crash-analysis-what-happened-to-bitcoin-strong">Bitcoin Crash Analysis: What Happened to Bitcoin?</h2>
Looking at the below <a href="https://cryptoticker.io/en/token/price/BTC-USD/">BTCUSD</a> chart:
<a href="https://www.tradingview.com/symbols/BTCUSD/?aff_id=127958"><img src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/BTCUSD_2025_12_01_12_50_11_bd0c36ffee.png" alt="BTCUSD_2025-12-01_12-50-11.png"></a>
BTC/USD 2-hour chart - <a href="https://www.tradingview.com/symbols/BTCUSD/?aff_id=127958">Tradingview</a>
<ul>
 <li>$BTC broke down sharply from the $89,500–$90,000 zone, highlighted by the yellow arrow.</li>
 <li>A massive red candle shows forced liquidations, mostly from overleveraged long positions.</li>
 <li>Price crashed to $86,542, confirming a liquidity sweep.</li>
 <li>Stoch RSI is deeply oversold (17.25 / 11.10), signaling exhaustion in the sell-off and the possibility of a short-term bounce.
 <ul>
 <li>The true support remains at $80,000, which aligns with:</li>
 <li>Previous accumulation zones</li>
 <li>High liquidity resting below</li>
 <li>A psychological round number</li>
 </ul></li>
</ul>
Unless Bitcoin reclaims $89K–$90K, momentum remains bearish in the short term.
<h2 id="strong-why-the-market-crashed-strong">Why the Market Crashed</h2>
<h3 id="strong-1-whale-liquidations-triggered-a-cascade-strong">1. Whale Liquidations Triggered a Cascade</h3>
On-chain flows show several large <a href="https://www.ccn.com/analysis/crypto/bitcoin-price-btc-crashes-liquidation-worst-yet-to-come/">wallets unloading</a> BTC and ETH. Combined with high leverage, this created a cascade of long liquidations, accelerating the drop.
<h3 id="strong-2-china-issued-its-harshest-crypto-warning-in-years-strong">2. China Issued Its Harshest Crypto Warning in Years</h3>
China <a href="https://cryptoticker.io/en/china-says-crypto-is-illegal-and-flags-stablecoin-threats/">reiterated</a> that:
<ul>
 <li>Crypto remains illegal</li>
 <li>Stablecoins pose financial risks</li>
 <li>Speculation is rising again</li>
 <li>Financial institutions must tighten controls</li>
</ul>
This sent a shockwave through the global market — especially because China targeted stablecoins, which remain critical for global liquidity.
<h2 id="strong-top-10-crypto-performance-past-24h-strong">Top 10 Crypto Performance (Past 24h)</h2>
Below is the 24-hour breakdown:
<h3 id="strong-1-bitcoin-btc-strong">1. Bitcoin (BTC)</h3>
24h: -5.02% 
 BTC led the crash, losing its $90K handle and dragging the entire market with it.
<h3 id="strong-2-ethereum-eth-strong">2. Ethereum (ETH)</h3>
24h: -5.49% 
 ETH followed BTC closely. Momentum is weak, but ETH still shows slightly stronger weekly performance.
<h3 id="strong-3-xrp-xrp-strong">3. XRP (XRP)</h3>
24h: -6.82% 
 XRP dropped harder than BTC/ETH as liquidity thinned. Traders look for support around $2.
<h3 id="strong-4-bnb-bnb-strong">4. BNB (BNB)</h3>
24h: -5.93% 
 BNB reacted to the broad market, but remains one of the “more stable” majors.
<h3 id="strong-5-solana-sol-strong">5. Solana (SOL)</h3>
24h: -6.89% 
 SOL took one of the deepest hits among top altcoins. High-volatility trading amplified the move.
<h3 id="strong-6-tron-trx-strong">6. Tron (TRX)</h3>
24h: -1.09% 
 Surprisingly resilient. TRX remains one of the least-affected majors due to strong stablecoin network usage.
<h3 id="strong-7-dogecoin-doge-strong">7. Dogecoin (DOGE)</h3>
24h: -8.03% 
 The worst performer in the top 10. Meme assets always bleed more during fear events.
<h3 id="strong-8-cardano-ada-strong">8. Cardano (ADA)</h3>
24h: -7.88% 
 ADA continues its macro downtrend. Weak liquidity made the drop heavier.
<h3 id="strong-9-hyperliquid-hype-strong">9. Hyperliquid (HYPE)</h3>
24h: -7.04% 
 HYPE was largely unaffected by the crash, showing incredible resilience compared to other majors.

Crypto Market Crash: Bitcoin Drops 5% as Whales Liquidate & China Reignites Fear

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