Cryptocurrency market V-shaped reversal! 270,000 people liquidated 900 million, BTC surged to 92,000 ETH skyrocketed 11%💥

In the past two days, the cryptocurrency market has staged a rollercoaster scene, with regulatory hammer + plummet + surge + technical upgrades bombarding one after another, the core big news is coded below👇

🚨 Regulatory tightening! 13 departments have declared stablecoins 'illegal'

The central bank leads a joint crackdown with the Ministry of Public Security, the Cyberspace Administration, and 13 other departments, clearly stating for the first time: stablecoins are virtual currencies! This directly points to their hiding of money laundering and illegal cross-border fund transfers, classifying all related activities as illegal financial activities. This wave of operations has caused Hong Kong stock stablecoin concept stocks to collectively plunge, with Huajian Medical down over 15%, Yunfeng Financial down over 11%, further compressing speculation space in the cryptocurrency market.

💸 First collapse then surge! 270,000 people liquidated 980 million then rebound

On December 1, the cryptocurrency market directly 'opened down', with BTC plummeting by 8% during trading, crashing below $84,000, ETH dropping below $2,800, and SOL and other cryptocurrencies dropping over 6%. Within 24 hours, 270,000 people were harvested, with a total liquidation amount close to $1 billion, of which long positions accounted for $870 million, retail investors were left questioning their lives after being bloodied.

The market has started a V-shaped reversal! BTC surged to break through $92,000, soaring over 6.5% in 24 hours; ETH was even more aggressive, soaring 11.6% back to the $3,000 mark, peaking at $3,050, completely erasing the previous day's losses.

⚡ ETH unleashes a big move! Fusaka upgrade lands today

The main event for Ethereum is here! The Fusaka upgrade is scheduled for the evening of December 3, after which the block gas limit will be raised from 36 million to 60 million, and the introduction of PeerDAS technology is expected to reduce Layer-2 transaction fees by 40%-60%, with a processing capacity likely to reach 100,000 transactions per second. This wave of technical benefits has become a 'divine assist' for the rebound, directly fueling ETH's upward momentum.

✅ Institutional dynamics hide signals

Vanguard Group has loosened restrictions, allowing its platform to trade mainstream coin ETFs such as BTC and ETH; MicroStrategy has invested $1.44 billion to stockpile cash to cope with market fluctuations; Bitcoin ETFs have recorded an inflow of $8.48 million, and institutions are still quietly positioning for the long-term outlook. $BTC #比特币走势分析