Bitcoin Plunges Under $98,000, ETH, SOL, ADA Down 8% as $880M in Bullish Bets Liquidated

[Trader Nachi: Bitcoin's Weak Trend, Market Recovery Unlikely Before Year-End] Crypto trader Nachi stated that although Bitcoin briefly rebounded after falling below the critical $100,000 price level, it has once again lost its core range, with the overall trend still appearing weak. He pointed out that the U.S. stock market has weakened due to the decline in December rate cut expectations and the postponement of a government shutdown, with investors leaning toward year-end profit-taking. Nachi mentioned that while crypto assets face downside risks, the market has already undergone significant corrections, leaving limited room for short positions. Meanwhile, crypto-related stocks like Coinbase and Robinhood may see further declines. He advised investors who are not skilled at shorting to increase their cash positions and wait for better entry opportunities, predicting that the crypto market is unlikely to see a significant recovery before the end of the year.

Michael Saylor tweeted, "Volatility is a gift for loyalists." (Cointelegraph)

[Bruce, founder of Maiton MSX, states that Bitcoin mining machines S19 and M60 series have reached shutdown price] Bruce, founder of Maiton MSX, posted on the X platform stating that the previous generation Bitcoin mining machines S19 and M60 series have reached the shutdown price. If operations are not halted, electricity costs will result in losses next month.

[JD Vance Says Chuck Schumer May End Political Career Due to Government Shutdown] On November 14, JD Vance stated in an interview with Fox News that Democratic Senate leader Chuck Schumer might end his political career due to leading the government shutdown. JD Vance said Chuck Schumer is 'more committed to the government shutdown than anyone else.' Reports suggest that Chuck Schumer suffered a major defeat this week and will not participate in the 2028 election.

Bitcoin and the risk market have declined due to increased economic uncertainty, influenced by poor corporate profits and changes in US growth expectations. （Cointelegraph）