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Why is Bitcoin price down today?

Published 12/07/2022, 12:47 PM
Updated 12/07/2022, 02:20 PM

Bitcoin (BTC) price has seen a gradual decline in its bullish momentum to hit a new monthly low at $16,736 on Dec. 3.

The move follows a market-wide decline that has already set BTC capitulation records in the aftermath of the FTX-induced contagion.

BTC correlation to equities. Arcane Research
Bitcoin realized profit and loss. Source: Glassnode
Grayscale BTC holdings. Source: Coinglass
Real BTC-USD Daily Volume. Source: Arcane Research

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