![Bitcoin tumbles below $47K wiping out October gains — Bear market begins?](https://ban8.com.cn/static/ts/img/202112/446.jpg)
Bitcoin (BTC) has suddenly fallen below $47,000 on Dec. 4, losing nearly 20% in the past 24 hours. This makes this the biggest one-day drop since May 15, when Bitcoin price momentarily came down to nearly $33,000.
The market price of BTC fell down 26.4% from week-long support of $57,206 to go down to $42,268 before recovering back to the $45k mark. According to ByBit data, the Bitcoin market experienced $1.3B total liquidations in the past hour, with $735M liquidated in BTC longs on this drop.
Continue Reading on Coin Telegraph
Bitcoin extends downtrend, falls 12.1% to $47,176 By Reuters
Bitcoin, Ethereum, Solana tumble 15%; $400 billion wiped out of crypto market cap By
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