The crypto market came under pressure on Friday, with Bitcoin and altcoins falling by over 2%.The crypto market came under pressure on Friday, with Bitcoin and altcoins falling by over 2%.

Crypto market slips as liquidations soar, open interest plunges

2025/12/06 05:30

The crypto market slipped on Dec. 5, with Bitcoin and most altcoins being in the red as liquidations rebounded and open interest dipped. 

Summary
  • The crypto market came under pressure on Friday, with Bitcoin and altcoins falling by over 2%.
  • This decline coincided with the soaring liquidations and falling open interest.
  • These tokens also dropped ahead of a $4.5 billion options expiry event.

Bitcoin (BTC) moved from over $93,000 earlier this week to below $90,000. Some of the top laggards were coins like Canton, MYX Finance, Aptos, Hyperliquid, Morpho, and Aerodrome Finance. 

Crypto market crash

The crypto market crash coincided with a big drop in daily open interest in the futures market. It dropped by 4.35% to $127 billion, down from the October high of $225 billion. 

The open interest has slipped as investors have continued to deleverage after the $20 billion wipeout on October 10. In most cases, crypto prices remain under pressure whenever the open interest is in a downward trend.

Meanwhile, total liquidations soared by over 75% from a day earlier. They rose to $491 million, with 135,667 traders being wiped out. Bitcoin liquidations rose to $191 million, while Ethereum jumped to $116 million. Some of the other top liquidated tokens were Solana, XRP, and Fartcoin.

Crypto liquidations

Crypto prices normally drop sharply whenever bullish liquidations are rising because it increases the amount of selling.

The ongoing crypto market crash is happening ahead of the options expiry worth over $4.8 billion. Bitcoin positions worth over $3.5 billion will expire with a maximum pain of $91,000. 

On the other hand, Ethereum options are worth over $700 million with a maximum pain of $3,050 expiring. Crypto prices often experience substantial volatility ahead of and after a major options expiry event.

The crypto market crash is also happening as investors book profits after the recent rebound, when Bitcoin rose from $80,000 to over $93,000 within less than two weeks.

Looking ahead, the next important catalyst for Bitcoin and other altcoins will be the upcoming Federal Reserve interest rate decision, which will come out on Wednesday next week. 

Polymarket data shows that odds of the bank cutting rates by 0.25% have jumped to 93% from last week’s low of below 50%. While a rate cut is bullish for Bitcoin and other altcoins, the bank’s guidance may hit their performance.

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

A ‘Detonation’ May Be Next, Analyst Says

A ‘Detonation’ May Be Next, Analyst Says

The post A ‘Detonation’ May Be Next, Analyst Says appeared on BitcoinEthereumNews.com. They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley! So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit…
Share
BitcoinEthereumNews2025/09/20 05:20
Maryland Man Sentenced for Allegedly Aiding North Korea’s US Company Infiltration and Sensitive Data Access

Maryland Man Sentenced for Allegedly Aiding North Korea’s US Company Infiltration and Sensitive Data Access

The post Maryland Man Sentenced for Allegedly Aiding North Korea’s US Company Infiltration and Sensitive Data Access appeared on BitcoinEthereumNews.com. North Korea’s IT workers infiltrated US companies through a Maryland man’s scheme, earning over $970,000 while enabling access to sensitive government systems. This operation supported the regime’s cyber activities, including crypto hacks that stole $2 billion in 2025, funding nuclear programs. Minh Phuong Ngoc Vong sentenced to 15 months in prison for aiding North Korean infiltration. He used fake credentials to secure jobs at 13 US firms, passing work to overseas conspirators. North Korea stole $2 billion in crypto in 2025 via hacks, totaling over $6 billion recently, per blockchain analytics firm Elliptic. Discover how North Korea’s IT infiltration and crypto hacking schemes threaten US security. Learn the details of the Maryland case and regime’s $6B theft. Stay informed on cybersecurity risks today. What is North Korea’s IT Infiltration Scheme in US Companies? North Korea’s IT infiltration scheme involves covertly placing regime-affiliated workers into US companies using fake identities to generate revenue and access sensitive systems. In a recent Maryland case, Minh Phuong Ngoc Vong was sentenced to 15 months in prison and three years of supervised release for facilitating this for three years across 13 companies. The operation netted over $970,000, much of which funded North Korea’s weapons programs through software work performed by overseas actors, including those in China near the border. How Does North Korea Use Crypto Hacking to Fund Its Programs? North Korea employs sophisticated cyber groups to target cryptocurrency exchanges and wallets, stealing digital assets that convert to fiat for regime funding. According to blockchain analytics firm Elliptic, these groups pilfered approximately $2 billion in cryptocurrencies in 2025 alone, contributing to a total exceeding $6 billion in recent years from hacks on platforms like Bybit and Upbit. This influx directly supports nuclear and missile development, as confirmed by US intelligence assessments. Experts note the regime’s…
Share
BitcoinEthereumNews2025/12/06 09:12