Crypto Market Faces Severe Decline Amidst U.S. Equities Drop
On December 1, 2025, the crypto market experienced a significant downturn, mirroring the decline of U.S. equities. Bitcoin, the largest digital asset by market cap, fell over 7.5%, reaching a low of $83,814 per coin. This drop triggered a ripple effect across the market, with altcoins also suffering substantial losses.
Traders have hit the pause button ahead of an upcoming address from U.S. Federal Reserve Chairman Jerome Powell, reports indicate, highlighting a growing uncertainty among investors.
The digital currency market now sits at $2.83 trillion after a 7.97% decline in just 24 hours. Bitcoin (BTC) is down 7.5%, while Ethereum (ETH) has dropped 9.6%. A wide range of altcoins were severely impacted, with the privacy coin Decred (DCR) plummeting 20.35% and Zcash (ZEC) falling approximately 19.74%.
Other notable losses include meme token Mog Coin (MOG) which dropped 18.92%, Brett (BRETT) down 18.4%, and Plasma (XPL) slipping 17.89%. Many other tokens also experienced declines between 15.36% and 16.33%.
Among the top ten cryptocurrencies, XRP and BNB both fell by 9.5%, SOL dropped over 11%, and DOGE was down 11.6%. ADA faced a 12.3% drop, while BCH absorbed an 8.2% hit.
The day's pullback triggered heavy liquidations in the derivatives markets, nearing $1 billion with total liquidations reaching $950.16 million. Of this, approximately $866.8 million came from crypto long positions, including a significant $358 million in Bitcoin longs.
