{"id":54098,"date":"2021-12-04T09:45:08","date_gmt":"2021-12-04T07:45:08","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=54098"},"modified":"2025-09-03T18:34:49","modified_gmt":"2025-09-03T15:34:49","slug":"bitcoin-price-falls-below-47000-2","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-price-falls-below-47000-2\/","title":{"rendered":"Bitcoin price falls below $47,000"},"content":{"rendered":"<p>On Saturday, 4 December, the price of the leading cryptocurrency fell below $47,000. The drop over the past 24 hours stood at 16%, according to <a href=\"https:\/\/www.coingecko.com\/en\">CoinGecko<\/a>.<\/p>\n<p>Bitcoin price briefly fell to $42,000.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"640\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-12-04-v-09.04.52-1024x640.png\" alt=\"Bitcoin price fell below $47 000\" class=\"wp-image-158137\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-12-04-v-09.04.52-1024x640.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-12-04-v-09.04.52-300x188.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-12-04-v-09.04.52-768x480.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-12-04-v-09.04.52-1536x960.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-12-04-v-09.04.52-2048x1280.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>BTC\/USDT chart on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/BTCUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>The Ethereum price collapsed to $3,500. At the time of writing the cryptocurrency was trading at around $3,800.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"640\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-12-04-v-09.11.42-1024x640.png\" alt=\"Bitcoin price fell below $47 000\" class=\"wp-image-158138\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-12-04-v-09.11.42-1024x640.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-12-04-v-09.11.42-300x188.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-12-04-v-09.11.42-768x480.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-12-04-v-09.11.42-1536x960.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-12-04-v-09.11.42-2048x1280.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>ETH\/USDT chart on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/ETHUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Other top-10 cryptocurrencies by market capitalisation also moved into the red, with the exception of stablecoins. Terra (LUNA) entered the top ten for the first time.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"523\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-12-04-v-09.14.54-1024x523.png\" alt=\"Bitcoin price fell below $47 000\" class=\"wp-image-158139\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-12-04-v-09.14.54-1024x523.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-12-04-v-09.14.54-300x153.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-12-04-v-09.14.54-768x392.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-12-04-v-09.14.54-1536x785.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2021-12-04-v-09.14.54-2048x1046.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Data: CoinGecko.<\/figcaption><\/figure>\n<p>On the Bitcoin futures market, liquidations over the past 24 hours amounted to $961 million, over the hour \u2014 $342 million.<\/p>\n<p>The total cryptocurrency market capitalisation fell to $2.28 trillion, with Bitcoin&#8217;s market cap at $898 billion, according to CoinGecko.<\/p>\n<p>The Block analyst Larry Cermak recorded long-position liquidations totaling $1.3 billion as the price of \u201cdigital gold\u201d fell to $42,000.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe first massive liquidation in a while,\u201d he wrote.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">We\u2019ve seen $1.3 billion in long positions liquidated on this dump from $51k to to $42k. Keep in mind this number is likely undercounted because of Binance and Bybit limiting liquidations data. First massive liquidation in a while <a href=\"https:\/\/t.co\/wfh9f2PItT\">pic.twitter.com\/wfh9f2PItT<\/a><\/p>\n<p>\u2014 Larry Cermak (@lawmaster) <a href=\"https:\/\/twitter.com\/lawmaster\/status\/1467009496149078022?ref_src=twsrc%5Etfw\">December 4, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Journalist Colin Wu, citing data from Nansen, reported that the large-scale liquidation pushed Ethereum gas price up to roughly 1000 gwei.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">According to Nansen data, the large-scale liquidation and replenishment on the ETH chain once pushed up Gas fees by nearly 1000 gwei. <a href=\"https:\/\/t.co\/pHcyjHdvyV\">pic.twitter.com\/pHcyjHdvyV<\/a><\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1467008689194233859?ref_src=twsrc%5Etfw\">December 4, 2021<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>El Salvador&#8217;s President Nayib Bukele said that the state Bitcoin fund bought an additional 150 BTC during the fall, at an average price of $48,670. With the new investment, his balance stands at 1,370 BTC.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cMissed the f***ing bottom by 7 minutes,\u201d he wrote.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Missed the f***ing bottom by 7 minutes \ud83d\ude02<\/p>\n<p>\u2014 Nayib Bukele \ud83c\uddf8\ud83c\uddfb (@nayibbukele) <a href=\"https:\/\/twitter.com\/nayibbukele\/status\/1467003967133687809?ref_src=twsrc%5Etfw\">December 4, 2021<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Tron founder Justin Sun said that he followed the example of the El Salvador president and bought 100 BTC at an average price of $47,627.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">To match the CEO of El Salvador <a href=\"https:\/\/twitter.com\/nayibbukele?ref_src=twsrc%5Etfw\">@nayibbukele<\/a> &#8216;s offer, <br \/>I just bought the dip! <br \/>100 coins at an average USD price of 47,627.03 <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a><\/p>\n<p>\u2014 H.E. Justin Sun \ud83d\udc68\u200d\ud83d\ude80 (Astronaut Version) (@justinsuntron) <a href=\"https:\/\/twitter.com\/justinsuntron\/status\/1467011917424119809?ref_src=twsrc%5Etfw\">December 4, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<\/figure>\n<p>Elon Musk reacted to the fall in Bitcoin&#8217;s price with a meme.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cHey, man, you really should get into crypto. Web3 is the future. Join our <span data-descr=\"decentralized autonomous organization\" class=\"old_tooltip\">DAO<\/span>,\u201d the image caption says.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/t.co\/sIGZPDyx76\">pic.twitter.com\/sIGZPDyx76<\/a><\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1466942645545099272?ref_src=twsrc%5Etfw\">December 4, 2021<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">4 December 2021 | 16:07<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>AFP News Agency reported that the Chinese government summoned the founder of Evergrande amid warnings that there were no guaranteed funds to meet its financial obligations in a filing to the Hong Kong stock exchange.<\/p>\n<div class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/UPDATE?src=hash&#038;ref_src=twsrc%5Etfw\">#UPDATE<\/a> The Chinese government summoned the founder of property giant Evergrande after the company warned there was &#8220;no guarantee&#8221; of sufficient funds to meet its financial obligations in a filing to the Hong Kong stock exchange<\/p>\n<p>\ud83d\udcf8 China Evergrande Centre logo in Hong Kong <a href=\"https:\/\/t.co\/VpBN35MMkV\">picwitter.com\/VpBN35MMkV<\/a><\/p>\n<p>\u2014 AFP News Agency (@AFP) <a href=\"https:\/\/twitter.com\/AFP\/status\/1466779253920329730?ref_src=twsrc%5Etfw\">December 3, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<\/div>\n<p>In early November Bitcoin <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-retreats-from-record-as-evergrande-default-fears-mount\">retraced from its all-time high<\/a> on news of Evergrande&#8217;s potential default. The leading cryptocurrency shed nearly 9%, breaking below $63,000.<\/p>\n<p>Analyst Micha\u00ebl van de Poppe called the Bitcoin drop scenario \u201cvery simple.\u201d He said the correction was driven by unrealised expectations of a December bull run.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The scenario is very simple. <\/p>\n<p>\u25ab\ufe0f People expected a peak bull run in December. Not happening.<br \/>\u25ab\ufe0f Let the market correct due to that. <br \/>\u25ab\ufe0f People will expect a bear market at the low (approx. $47-50K).<br \/>\u25ab\ufe0f Moon the markets and leave everyone behind.<\/p>\n<p>Super cycle.<\/p>\n<p>Easy. <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a><\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1466869887440232455?ref_src=twsrc%5Etfw\">December 3, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<\/figure>\n<p>Galaxy Digital Research analysts attributed the market drop to broad nerves tied to the discovery of a new COVID-19 variant called \u201cOmicron\u201d and <a href=\"https:\/\/u1f987.com\/en\/news\/fed-chair-signals-faster-tapering-of-stimulus\">statements<\/a> by the Chair of the U.S. Federal Reserve about accelerating the pace of winding down asset purchases.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Markets dropped significantly overnight in a continuation of risk-off sentiment that appeared to permeate global markets Friday. Read more in this note we sent to clients: <a href=\"https:\/\/t.co\/Hoc51f5qpI\">https:\/\/t.co\/Hoc51f5qpI<\/a><\/p>\n<p>\u2014 Galaxy Research (@glxyresearch) <a href=\"https:\/\/twitter.com\/glxyresearch\/status\/1467131532968091655?ref_src=twsrc%5Etfw\">December 4, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<\/figure>\n<\/div>\n<p>In early November Bitcoin <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-retreats-from-record-as-evergrande-default-fears-mount\">retraced from its all-time high<\/a> on news of Evergrande&#8217;s potential default. The leading cryptocurrency shed nearly 9%, breaking below $63,000.<\/p>\n<p>Analyst Micha\u00ebl van de Poppe called the Bitcoin drop scenario \u201cvery simple.\u201d He said the correction was driven by unrealised expectations of a December bull run.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The scenario is very simple. <\/p>\n<p>\u25ab\ufe0f People expected a peak bull run in December. Not happening.<br \/>\u25ab\ufe0f Let the market correct due to that. <br \/>\u25ab\ufe0f People will expect a bear market at the low (approx. $47-50K).<br \/>\u25ab\ufe0f Moon the markets and leave everyone behind.<\/p>\n<p>Super cycle.<\/p>\n<p>Easy. <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a><\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1466869887440232455?ref_src=twsrc%5Etfw\">December 3, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<\/figure>\n<p>Galaxy Digital Research analysts cited broad market nerves from the emergence of the Omicron variant and <a href=\"https:\/\/u1f987.com\/en\/news\/fed-chair-signals-faster-tapering-of-stimulus\">statements<\/a> by Federal Reserve Chair Jerome Powell about the pace of tapering asset purchases as the reasons for the decline.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Markets dropped significantly overnight in a continuation of risk-off sentiment that appeared to permeate global markets Friday. Read more in this note we sent to clients: <a href=\"https:\/\/t.co\/Hoc51f5qpI\">https:\/\/t.co\/Hoc51f5qpI<\/a><\/p>\n<p>\u2014 Galaxy Research (@glxyresearch) <a href=\"https:\/\/twitter.com\/glxyresearch\/status\/1467131532968091655?ref_src=twsrc%5Etfw\">December 4, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<\/figure>\n<\/div>\n<p>In early November Bitcoin <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-retreats-from-record-as-evergrande-default-fears-mount\">retraced from its all-time high<\/a> on news of Evergrande&#8217;s potential default. The leading cryptocurrency shed nearly 9%, breaking below $63,000.<\/p>\n<p>Analyst Micha\u00ebl van de Poppe called the Bitcoin drop scenario \u201cvery simple.\u201d He said the correction was driven by unrealised expectations of a December bull run.<\/p>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">4 December 2021 | 16:07<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>AFP News Agency reported that the Chinese government summoned the founder of Evergrande amid warnings that there were no guaranteed funds to meet its financial obligations in a filing to the Hong Kong stock exchange.<\/p>\n<\/div>\n<p><a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Saturday, 4 December, Bitcoin price fell below $47,000. The drop over the last 24 hours was 16%.<\/p>\n","protected":false},"author":1,"featured_media":54099,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480],"class_list":["post-54098","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/54098","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=54098"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/54098\/revisions"}],"predecessor-version":[{"id":54100,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/54098\/revisions\/54100"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/54099"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=54098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=54098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=54098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}