{"id":17903,"date":"2025-12-13T08:34:13","date_gmt":"2025-12-13T08:34:13","guid":{"rendered":"https:\/\/bitunikey.com\/news\/crypto-crash-today-why-are-bitcoin-and-top-altcoins-tanking\/"},"modified":"2025-12-13T08:34:20","modified_gmt":"2025-12-13T08:34:20","slug":"crypto-crash-today-why-are-bitcoin-and-top-altcoins-tanking","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/crypto-crash-today-why-are-bitcoin-and-top-altcoins-tanking\/","title":{"rendered":"Crypto crash today: why are Bitcoin and top altcoins tanking?"},"content":{"rendered":"
\n

The recent crypto crash resumed today, Dec. 13, with Bitcoin and most altcoins being in the red and the market capitalization falling by over 2% in the last 24 hours.<\/p>\n

\n
\n Summary<\/span>\n <\/div>\n
\n
    \n
  • The crypto market is crashing today as a risk-off sentiment prevails.<\/li>\n
  • Bitcoin has also formed numerous risky patterns on the daily chart.<\/li>\n
  • The futures open interest and volume dropped in the last 24 hours.<\/li>\n<\/ul><\/div>\n<\/div>\n

    <\/p>\n

    Bitcoin (BTC) price dropped from this week\u2019s high of $94,000 to $90,000. Some of the top laggards in the crypto market were tokens like The Graph, Story, Algorand, and Ethena, which fell by over 5%.<\/p>\n

    Crypto crash today coincides with stock market weakness<\/h2>\n

    The ongoing crypto crash happened as investors embraced a risk-on sentiment in the market. For example, American equities continued their recent slump amid AI jitters following the mixed earnings reports by companies like Broadcom and Oracle.<\/p>\n

    The tech-heavy Nasdaq 100 Index dropped by 500 points, while the S&P 500 and Dow Jones fell by 70 and 210 points, respectively.\u00a0<\/p>\n

    Also, the closely-watched VIX Index rose by over 2.7% to $16.70, while bond yields jumped. The ten-year yield rose to 4.20%, while the 22-year spiked to 3.53% even after the Federal Reserve slashed rates by 0.25%.<\/p>\n

    Therefore, the crypto market crash is happening as investors move away from risky assets.<\/p>\n

    <\/p>\n

    Bitcoin price risky patterns are sending jitters<\/h2>\n

    Meanwhile, the Bitcoin price has formed a series of risky patterns that are sending jitters in the market. The chart above shows that the coin formed the risky death cross pattern in November this year.\u00a0<\/p>\n

    This pattern formed as the 50-day and 200-day moving averages crossed each other and is one of the most common bearish signs in technical analysis. Bitcoin also remains below the Supertrend and all moving averages.\u00a0<\/p>\n

    It has also formed a bearish flag pattern, meaning that it may have more downside, potentially to $75,000. Such a move would lead to more weakness in the crypto market.<\/p>\n

    BTC price chart | Source: crypto.news<\/figcaption><\/figure>\n

    Crypto futures open interest dropped<\/h2>\n

    The crypto market tanked as the futures open interest dropped by over 1.34% in the last 4 hours to $133 million. Open interest, which is an important indicator of leverage deployed in the market, has been in a downward trajectory in the past few months.\u00a0<\/p>\n

    It has dropped from a peak of over $255 billion in October, when over 1.6 million were liquidated. In most cases, crypto prices drop when the open interest is falling.<\/p>\n

    The open interest drop coincided with volume, which tanked by 15% to $200 billion. That is a sign of weak demand in the crypto market.\u00a0<\/p>\n

    However, on the positive side, it is normal for the crypto market to experience low volume and open interest during the weekend.<\/p>\n

    <\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

    The recent crypto crash resumed today, Dec. 13, with Bitcoin and most altcoins being in the red and the market capitalization falling by over 2% in the last 24 hours.…<\/p>\n","protected":false},"author":1,"featured_media":17904,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-17903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/17903","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=17903"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/17903\/revisions"}],"predecessor-version":[{"id":17905,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/17903\/revisions\/17905"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/17904"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=17903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=17903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=17903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}