In the past 24 hours, the cryptocurrency market has seen significant volatility:

1. Market Decline and Liquidations: The total market cap dropped by 7.2%, resulting in over $783 million in liquidations. Bitcoin (BTC) decreased by 4.6%, while Ethereum (ETH) and Solana (SOL) fell by 8.1% and 11.6%, respectively. Analysts attribute this correction to cyclical market patterns typical before Bitcoin halving events, though there are no immediate external causes identified

2. Ethereum's Price Movement: Ethereum is facing bearish pressure with its price at $2,552 after failing to sustain gains above critical resistance. Historical patterns suggest the possibility of another drop in December. This coincides with a potential impact from upcoming options expirations worth $1 billion

3. Broader Market Trends: While the short-term outlook remains uncertain, some altcoins have shown resilience, and decentralized finance (DeFi) platforms are seeing increased activity. The stablecoin market cap has surpassed $200 billion, reflecting robust demand for liquidity in decentralized markets