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Global crypto markets continued their volatile moves over the past 24 hours, with the majority of assets trading lower as Bitcoin failed to hold key technical levels ahead of the 2025 close.
Bitcoin fell about 26% after once again failing to break through the $90,000 mark, despite earlier recording a temporary surge to a high of around US$90,536.
The selling pressure was driven by a sharp increase in position liquidation, with total liquidity reaching $250 million. This was mostly long positions, reflecting fragile market sentiment.
If this trend continues, Bitcoin is expected to close the fourth quarter of this year down around 22%, the weakest Q4 performance since the crypto market crash of 2018.
Major altcoins were also affected, with Ethereum and most other major altcoins posting modest declines, although some small-cap tokens saw extreme moves in both directions.
