Crypto selloff deepens as macro and AI jitters hit risk assets
Bitcoin has fallen for six straight weeks and traders are split on whether a bottom is in. A fully priced December hike, shrinking stablecoin supply and an AI-stock rout are cited as drivers.
Confirmed
- Bitcoin has fallen for six straight weeks
- Bitcoin is down 18% heading into Anthropic's IPO
- An AI-stock rout and a fully priced December hike are cited as drivers
Not yet known
- Whether bitcoin has reached a bottom, with traders split on the question
- Whether over $3bn in long positions will be liquidated next week
- Whether XRP will push into the $0.60–0.90 range after hitting its downside target
What we know
Traders note bitcoin has had six consecutive weekly losses, with some arguing it is nearer the bottom than the top. Others warn that over $3bn more could still hit longs and favour shorts next week. One analyst says a December hike is fully priced and stablecoin supply has shrunk for a month. A chart analyst notes XRP hit its downside target with a possible push into $0.60–0.90. One analysis points out bitcoin is down 18% heading into Anthropic's IPO, similar to the 19% drop before SpaceX's.
Will Bitcoin dip to $55,000 by December 31, 2026?
Traders' bets on Polymarket, not a forecast by Global Eye 24. Polymarket · $8.4m traded · updated 09:31 UTC
What people are posting
Posts on X this story draws on. They are individual users' views and have not been verified by Global Eye 24.
“We are closer to the bottom than the top.”
View post →“we haven't bottomed yet”
View post →“a December hike is now fully priced”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.