Crypto Markets See Significant Decline as Bitcoin Hits $90,000
Rabat, Morocco – In a significant downturn, the global cryptocurrency market has seen a substantial decline, with Bitcoin (BTC) plummeting to $90,000. The broader market has also followed suit, with the CoinDesk 20 (CD20) and CoinDesk 80 (CD80) indices experiencing a 3.5% drop on a 24-hour basis.
The decline is attributed to the dour mood in Nasdaq futures triggered by Oracle’s earnings miss and a 25 bps Fed rate cut. Traders have expressed concerns over the hawkish forward guidance, which projects only one rate cut in 2026, and the growing divide among policymakers, leading to a decrease in risk assets.
According to data from SoSoValue, there has been a marked slowdown in net spot ETF inflows in the U.S. since November 11, with no single day of over $500 million in inflows recorded since then. This is a stark contrast to the November-December 2024 period, when ETFs collected at least $500 million per week.
However, there is some positive news in the market. Large holders (10-10k BTC wallets) have added approximately 42,565 BTC since December 1, indicating a smart-money accumulation signal. Meanwhile, short-term holders and retail are still trimming positions.
In other key news, Ethereum co-founder Vitalik Buterin has thrown his weight behind Fileverse, a decentralized, open-source encrypted document platform that aims to be a Web3-native alternative to tools like Google Docs.
Market Movements
– Bitcoin (BTC) has dropped 2.3% from $90,263.13 on Wednesday, with a 24-hour decline of 2.24%.
– Ethereum (ETH) has decreased by 4.25% to $3,199.17, with a 24-hour decline of 3.71%.
– The CoinDesk 20 (CD20) has dropped 3.25% to 2,871.54, with a 24-hour decline of 3.85%.
– Ether CESR Composite Staking Rate has decreased by 1 bps to 2.8%.
– BTC funding rate is at 0.0026% (2.8021% annualized) on Binance.
Token Events and Governance Votes
– Arbitrum DAO is voting on a one-year initiative funded by the existing DIP budget to financially reward delegates with over 200k ARB who vote consistently and publish their reasoning. Voting ends on December 11.
– Worldcoin will host an “unwrapped” livestream on December 11.
Conferences and Listings
– Abu Dhabi Finance Week 2025 (Abu Dhabi) – Day 4 of 4
– Indonesia Blockchain Week 2025 (Jakarta) – Day 2 of 2
– Solana Breakpoint 2025 (Abu Dhabi) – Day 1 of 3
– Talus Network (US) will be listed on Kraken, Gate.io, BitMart, Bitget, KuCoin, and others on December 11.
– Stable (STABLE) will be listed on Bithumb on December 11.
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