Reaching a new low after months on November 21 Bitcoin 
$86,219.53 Even though he had a good weekend, he had a terrible start to December. Despite the finalization of the interest rate cut, investors’ risk appetite is weak and US markets will open today. So which cryptocurrencies performed the worst?
Bitcoin Drop
We mentioned yesterday that the $88,000 support could be tested, but such a rapid decline was not expected. The failure of the resistance test at 93 thousand dollars, simultaneously with Trump’s statements, accelerated the sales. Cryptocurrencies had a bad start to December when the monthly and weekly closing candle came into play.
Falling below 85 thousand dollars BTC It is waiting for the US markets, which are about to open at the time of writing. We will see many important data, including PCE, announced this week until the December 10 interest rate decision. Even though the interest rate cut expectation is certain, investors reduce their risks as a year-end classic, bringing closures under the support of 88 thousand dollars.
If BTC achieves persistence below $84,704, we can see a new bottom extending to $79,400 in this scenario. Many analysts, including Roman Trading, expected BTC to form a larger top near $100,000. However, it didn’t happen as expected.
The Bank of Japan’s hawkish comments underlie the negativity in December. The possibility of Japan increasing interest rates in December is increasing. Bank of Japan Governor Ueda gave a clear message that the BoJ will raise interest rates. Japan’s two-year bond yield rose to its highest level since 2008. We shared detailed evaluations about the Carry Trade collapse last week. We will see how seriously the Fed will take this on next Wednesday.
Worst Cryptocurrencies
USA stock The markets opened with a loss and if it does not reverse in the coming hours, BTC losses may increase. There is a Powell statement tomorrow and the continued negativity is troubling. He drew attention to Vitalik Buterin’s warning yesterday and ZEC Coin We wrote that sales may accelerate. (ZEC Coin warning) It was exactly as we expected. Among the top 100 cryptocurrencies, the worst performing altcoin in the last 24 hours was ZEC Coin, with a loss of 22%. If privacy debates continue, losses may increase.
TIA, PUMP, SPX, AERO were the leaders in the rise, but now they are also the leaders in the decline. Its double-digit losses continue to mount. Losses in top league altcoins such as ADA, DOGE, AVAX have reached 10%, and if BTC continues to fall with the recent stock market opening, deeper bottoms may be tested. We have come to the end of the year and investors’ patience is still being tested.
