Crypto Market Crash: Is This the End of the Bull Run?

After weeks of continuous rallies and significant gains, crypto investors have witnessed a crypto market crash, with the Bitcoin price dropping to $98.8K today. The token was in its prime just a few days ago, hitting an ATH at $103.9k with a rally triggered by Donald Trump’s win in the US elections on November 6. However, the rally halted in the last few days as the token struggled to overcome the consolidation, concerning investors on the bull run running short.

With this, all the major altcoins are struggling on the charts, losing their significant gains. However, PEPE, X Empire, and a few others are bullish, where the PEPE price hit an ATH, and X Empire price surged 47% over the week despite the odds.

Top Reasons Behind The Today’s Crypto Market Crash

The crypto market has been bullish for days but seems to be heating with the days-long impressive performance. As the Bitcoin price struggled to achieve the $100k mark after hitting the ATH four days ago, the selling pressure began to build on the token, where the Bhutan government alone sold $40M Bitcoin. Additionally, the Coinglass liquidation reports show high turbulence in the market, with 204,384 traders liquidating $509.48M, which is a sign of volatility. Moreover, the December end fears of further drops. Around 39,960 Bitcoin options contracts will expire on December 27, which is unsettling.

Interestingly, selling pressure is also high in altcoins, where the Ethereum price dropped 3% in the last 24 hours amid the Justin Sun dumping $119M ETH. This is the outcome of Ethereum achieving a significant milestone of hitting $4K earlier in the day. The same liquidation and increased selling pressure among the other altcoins have led to the crypto market crash. Amid this news, the Cardano Foundation X account got compromised, fueling the negative sentiments around the trading in the market.

However, this crypto market crash was already out, as many crypto analysts have indicated the possibility of further consolidation due to the building selling pressure after continuous gains. One crypto analyst claimed that although the $100K mark was a significant milestone, it was possible with the investors being fond of the round figure, but there is nothing more to pump this rally anymore. However, he did mention the possibility of further resurfacing but with a small margin.

Another analyst anticipated that Donald Trump’s inauguration could shake it down even further.

Agree. Dream the post-Election dream now, shakedown after ~Inauguration makes the most sense as reality can never match the dream. But that shakedown won’t be the end, though it will scare paper hands into believing it is. https://t.co/9ucm86WH2H

— Chris Burniske (@cburniske) December 6, 2024

Is This The End of the Bull Run?

Despite the downtrend in Bitcoin price and the crypto market crash, most analysts would not agree with concluding this as the end of the Bull run. Instead, most of them are optimistic about the further rally, especially as the market moves towards 2025. However, a few see it as the beginning of the altcoin season as the altcoin market is growing.

More importantly, with Bitcoin’s dominance declining in the past few days, many call it an expression of altcoins gaining strength in the market. Even the Altcoin Season index is at 73, which is high, but dropped from 86 at the beginning of the month, which some conclude as the entry in the Altcoin season, which lasted short.

For now, the crypto market condition is the much-expected pulldown and has not put a full stop to this bull run just yet. However, the next few days could change that entirely, as the FED meeting,  CPI, PPI, and Import and export price index reports could push the market in any direction. However, in contrast, with the high liquidation and the crypto market crash, it is an opportunity for many to buy the cryptos at a low, which could bounce it back with new buyers entering the market.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.