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Why is crypto falling? Bitcoin is plunging below the 87,000 mark, altcoins are attracting attention.
Bitcoin (BTC) continues to lose ground — on December 23, the price dropped below $87,000 with a daily loss of 3.6%. Chainthink data shows that the market is experiencing a wave of sell-offs, and investors are starting to look at alternative assets.
Why is the crash happening?
Weakening cryptocurrency sentiment is pushing capital out of the main asset. The broad market decline creates a domino effect — traders are not waiting for Bitcoin to bounce back, and prefer to lock in losses or switch to more volatile altcoins in hopes of quickly capitalizing on the position.
What is the market looking at?
Currently, attention has shifted to altcoins. Amid the fall of BTC, investors hope to find opportunities in less correlated assets. However, it’s important to remember — when the king of crypto falls, the entire market usually follows downward. The question is only how deep the correction will be and when the recovery will begin.
Current data indicates that this phase could last until market conditions stabilize.