Bitcoin Plunge Below $98K Sparks Panic: Why Crypto Markets Are Bleeding Today
Crypto traders hit the sell button hard as Bitcoin craters below $98,000—triggering a market-wide flush. Here’s what’s rattling the cages.
Fear spreads faster than a meme coin pump. With BTC’s sudden nosedive, altcoins are getting dragged down like anchors. No safe havens—just red candles and margin calls.
Whales dumping or just paper hands folding? Either way, leverage gets vaporized faster than a VC’s promises during a bear market. Classic crypto volatility—or the start of something uglier?
Meanwhile, traditional finance bros sip lattes and whisper ‘told you so.’ Jokes on them—this is just Tuesday for crypto natives. Buckle up.
Stock Market Drag and Miner Sell-Off Deepen Crypto’s Decline
One of the biggest reasons behind why crypto is down today is the broader tech slump. U.S. markets opened red, and crypto stocks collapsed in tandem. Cipher Mining dropped 14.4%, Riot Platforms and Hut 8 fell 13%, and even Coinbase and MicroStrategy lost 7%.
The price of Bitcoin had briefly rebounded to $104,000 in overnight trading but reversed course once U.S. markets opened. By the early afternoon, it was sitting below $98,000, tracking a 1.7% drop in 24 hours.
Traders sold risk assets across the board as the S&P 500 dipped 1.3% and the Nasdaq fell 2%. The strong LINK between crypto and tech equities is once again in play – miners like Bitdeer lost 19%, while Bitfarms dropped 13%, and other firms like Galaxy, Robinhood, and Gemini fell between 7–8%.
Fading Fed Rate Cut Hopes Spark a Fear Shift
A second reason why is crypto down today is the collapse in sentiment around December rate cuts. After weeks of optimism, comments from Federal Reserve officials have reset expectations. Traders are now pricing in 50/50 odds of a December cut, a sharp shift from the previously bullish view.
This change hit speculative assets hardest. According to Santiment, sentiment metrics have turned sharply negative. The Crypto Fear & Greed Index plunged to 15 – the lowest in over seven months – signaling extreme fear.
In the current macro backdrop, with rate cut hopes fading and inflation still lingering, crypto has lost its upward catalyst. Liquidity conditions remain fragile, and investors are fleeing volatile positions in search of safer ground.
Bitcoin Hyper Sees $489K Whale Buy as Presale Crosses $27.5M
While broader crypto markets bleed, Bitcoin Hyper ($HYPER) is telling a different story. On-chain data shows a $489,000 whale purchase, timed just as the token price climbed to $0.013275 in Stage 6 of its presale.
More than $27,565,345 has been raised out of the $27.8M soft cap, with just over 1 day left until the next price hike. Buyers are rushing in before the new tier activates, and the momentum is pushing $HYPER into trending territory across presale trackers.
Unlike open-market tokens that suffer from immediate volatility, $HYPER offers structured growth. The low entry price, combined with high demand, is fueling speculation that early investors could benefit from a breakout once listings begin.
Could Bitcoin’s Peak Be In? Traders Rotate to Presales
Paul Howard from Wincent Trading warned that BTC’s 2025 peak may already be in, citing fading macro Optimism and a lack of year-end catalysts. With only six weeks left in the year, he expects sideways price action unless a major shift occurs.
That uncertainty is exactly why presale projects like Bitcoin Hyper are seeing capital rotation. These early-stage coins aren’t subject to the same rate sensitivity or liquidity risks. They offer a cleaner narrative and clearer upside – especially as whales signal confidence through big buys.
With just $240K remaining before the next price tier, Bitcoin Hyper is shaping up as a hedge against Bitcoin’s stagnation. Traders looking to re-enter the market without diving back into the volatility are seeing this presale as one of the few high-conviction plays right now.
Buy Bitcoin Hyper Here
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