A sudden and steep decline in cryptocurrency prices late Sunday triggered widespread panic on social media, as Bitcoin, Ethereum, Dogecoin, and several other tokens fell sharply within minutes.
Investors flooded social platforms with questions like “Why is Bitcoin down today?” and “Is there a reason behind this crash?” as digital assets plunged across global markets.
Bitcoin and Ethereum Tumble as Liquidations Surge
At the time of writing, Bitcoin had dropped nearly 3% in just one hour, while Ethereum fell more than 4.5%, according to CoinMarketCap.
One crypto analyst posted on X:
“Crypto off to a rough start as nearly $400,000,000 in longs were liquidated in the last hour.”
Another user joked nervously:
“Not sure who needs to hear this, but crypto is going to zero rn .”
Screenshots of rapidly falling price charts quickly circulated online, fueling further anxiety among traders.
What Triggered the Crash? No Clear Reason Yet
As of now, the cause of the sudden drop remains unclear. Cryptocurrency markets are known for extreme volatility, with prices often shifting dramatically due to:
regulatory rumors or announcements
technological vulnerabilities
macroeconomic concerns
changes in investor sentiment
global geopolitical developments
Any one of these could have played a role in Sunday’s selloff.
Crypto Weakens in Early Asia Trading
According to Bloomberg,
Bitcoin fell as much as 4.3%, briefly dipping below $88,000 in early Asian hours.
Ether dropped around 6% to below $2,900.
Sean McNulty, APAC derivatives trading lead at FalconX, said the downturn highlights a “risk-off start to December.”
