What happened to the crypto market on December 2?

According to TradingView, yesterday the minimum BTC price was $94,395, followed by a recovery to $95,533 by December 3. The daily futures liquidation volume reached $525.69 million. The dominance of electronic money dropped by more than 2%, while the Fear and Greed Index remained at 80, decreasing by three points over the day.

Resilience despite forecasts

Altcoins, unlike BTC, showed mixed dynamics. Amid the overall correction, some managed to demonstrate growth. Interestingly, the massive pullback expected after the drop in digital gold did not occur, highlighting the resilience of certain assets in a turbulent market environment.

Possible reasons for the correction

December often brings corrections for the leading cryptocurrency, which may indicate a recurring market cycle. According to Arkham, bitcoins worth $1.9 billion were withdrawn from a wallet allegedly linked to US authorities, possibly heightening market concerns. Additionally, the decline could be attributed to profit-taking following a 37.3% growth in November.

At the moment, the exact reasons for the drop remain unclear, complicating predictions. The Fear and Greed Index remains high, indicating interest in accumulation, which may partially offset the impact of the price decline.