"Bitcoin price fell sharply to the mid-$84,000s early Monday, sliding 8% over the past 24 hours as a wave of macro anxiety, thin liquidity and fresh crypto-native stress hit markets simultaneously. The world's largest digital asset traded between a 24-hour high of $91,866 and a low of $84,722, extending a two-month drawdown that has now erased more than 30% from October's record highs, according to Bitcoin Magazine Pro data."
"The most immediate shock could be from a security incident at Yearn Finance, where a flaw in the protocol's yETH pool allowed an attacker to mint an abnormally large amount of tokens. The exploit flooded the pool with invalid supply and triggered a rush for the exits across DeFi - spilling over into majors like BTC and ETH. But macro pressure has been building in parallel."
Bitcoin plunged into the mid-$84,000s, sliding about 8% in 24 hours and extending a two-month drawdown that erased over 30% from October record highs. Trading ranged from $91,866 to $84,722 amid thin liquidity and low-volume conditions. A security incident at Yearn Finance allowed abnormal token minting in the yETH pool, flooding DeFi with invalid supply and prompting selloffs that spilled into BTC and ETH. Simultaneously, a sharp spike in Japanese government bond yields after Bank of Japan comments signaled a possible December rate hike increased risk-off pressure and risked carry-trade unwinds, adding stress to bitcoin and other risk assets.
Read at Bitcoin Magazine
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