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Bitcoin Crashed Below $94K in Sudden Plunge From Record Perch Around $100K
BTC has been red-hot lately, taking out a milestone, but the bottom just fell out.
Updated Dec 5, 2024, 10:55 p.m. Published Dec 5, 2024, 10:45 p.m.
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Bitcoin's (BTC) price plunged below $94,000 late Thursday in rapid retreat from its newfound all-time high around $100,000.
There was no immediately obvious reason for the drop.
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CoinDesk Indices data, which incorporates prices from several sources, shows bitcoin dropped as low as $93,468.34. Meanwhile, it got to about $90,500 on Binance and $92,000 on Coinbase.
The selling did not spread across the rest of crypto — which is unusual. While bitcoin went into freefall, other tokens didn't really budge.
Bitcoin then rebounded back above $96,000.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
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- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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How a 'perpetual’ stock trick could solve Michael Saylor’s $8 billion debt problem
The bitcoin treasury firm is using perpetual preferreds to retire convertibles, offering a potential framework for managing long-dated leverage.
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