by Coinstrooper Crypto Articles
Quick Take
  • 63 of the top 100 coins have gone up over the past 24 hours.
  • At the same time, the total crypto trading volume is at $163 billion.
  • At the time of writing, 3 of the top 10 coins per market capitalization have seen their prices rise over the past 24 hours, while the rest remained in red.
  • Bitcoin (BTC) appreciated by 1% since this time yesterday, currently trading at $87,010.

What Happened

Nick Forster, Founder at onchain options platform Derive.xyz, commented that markets plunged overnight. This happened as global liquidity tightened and confidence in crypto deteriorated further following the Yearn hack.”

Market Context

Despite starting the month with a drop, the crypto market is up today, even if slightly, with the cryptocurrency market capitalisation rising by 0.5%, now standing at $3.03 trillion. 63 of the top 100 coins have gone up over the past 24 hours. At the same time, the total crypto trading volume is at $163 billion.

At the time of writing, 3 of the top 10 coins per market capitalization have seen their prices rise over the past 24 hours, while the rest remained in red.

Bitcoin (BTC) appreciated by 1% since this time yesterday, currently trading at $87,010. This is the highest rise in the category.

It’s followed by Dogecoin (DOGE)’s 0.7%, which is now trading at $0.1359.

At the top of the red list we find Canton (CC). It’s down 7.8% to the price of $0.07674.

Zcash (ZEC)follows with a 7.5% decrease to the price of $332.

On the green side, two coins saw double-digit increases. Rain (RAIN) is up 14.4%, now trading at $0.008129.

Market participants are awaiting a fresh batch of economic data releases this week and any comment by the Federal Reserve that would indicate its direction.

Moreover, global risk assets were hit by the Bank of Japan’s signal that it may raise rates. This increased fears that liquidity could dry up.

The market saw almost $1 billion in liquidations in 24 hours, with $400 million in BTC wiped out and $240 million in ETH perps liquidated.

“Volatility surged in response,” Forster says, and skew collapsed. “The move reflects aggressive demand for downside protection as traders reposition for further weakness.”

“Skew’s sharp step lower shows traders stacking puts, especially into the December 26 expiry, where open interest has concentrated at the $84K and $80K strikes. That positioning implies a meaningful probability of sub-$80K BTC to start 2026.”

He concluded that “I don’t believe the bottom is in. Short-dated volatility now sits above long-dated BTC volatility, signalling that the market expects outsized swings as we head into the new year.”

“Such heavy loss realisation is characteristic of a market under stress, and one actively seeking liquidity as participants increasingly exit positions at a loss due to fading momentum and deteriorating sentiment,” the analysts argue.

Why It Matters

Meanwhile, some of the latest economic data in the US suggest a softer tone, which has boosted expectations that the Federal Reserve is approaching a turn in policy.

Moreover, Bitfinex analysts found that the scale of the losses surpasses the realised-loss waves seen at the two major lows earlier in the current cycle, notably during August 2024 and April 2025. This signals “a more pronounced erosion of confidence.”

Details

Crypto Winners & Losers

Ethereum (ETH) is down by 0.5%, now changing hands at $2,810.

Two more coins are green this morning: Solana (SOL) and Binance Coin (BNB). SOL is up by 0.7% to $127, while BNB appreciated 0.4% to $829.

On the other side, the highest drop is 1.1% by XRP, currently standing at $2.02.

In the top 100 coins, 37 recorded decreases.

Provenance Blockchain (HASH) appreciated 10.8% to $0.02348.

‘Meaningful Probability of Sub-$80K BTC to Start 2026’