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Bitcoin tumbles back below $88,000 as gains
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Bitcoin tumbles back below $88,000 as gains
Bitcoin tumbles back below $88,000 as gains evaporate as quickly as they formed
5 min read
Bitcoin tumbles back below $88,000 as gains evaporate as quickly as they formed
It was a blink and you missed it rally as continued deflation in the AI trade sent the Nasdaq sharply lower, dragging crypto along with it.
By Krisztian Sandor|Edited by Stephen Alpher
Updated Dec 17, 2025, 4:21 p.m. Published Dec 17, 2025, 4:11 p.m.
Bitcoin (BTC) price (CoinDesk)
What to know:
- Wednesday's early U.S. rally in crypto suffered a near-instant reversal, sending bitcoin back to the $87,000 area minutes after it had jumped above $90,000.
- Artificial intelligence favorites Nvidia, Broadcom, and Oracle were sharply lower, dragging the Nasdaq down by more than 1%.
Crypto markets suffered major whipsaw action in morning U.S. trade, with bitcoin BTC$86,621.38 in the space of a few minutes rallying from around $87,000 to above $90,000 and then back to the $87,000 area.
The largest crypto was recently trading at $87,300, down by 0.5% over the past 24 hours after being higher by more than 3% minutes earlier.
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The quick decline happened alongside sharp losses for artificial intelligence-related stocks, with Nvidia, Broadcom and Oracle suffering 3%-6% drops. The tech-centric Nasdaq was lower by more than 1%.
Helping to deflate AI sentiment, Blue Owl Capital was reported to have pulled out of funding a $10 billion deal for an Oracle data center in Michigan.
The sudden price swings triggered over $190 million in liquidations across crypto derivatives markets in the past four hours, CoinGlass data shows. The volatile action hit $72 million in long positions, seeking to profit from rising prices, and $121 million in shorts, betting on a decline.
Shrinking liquidity at the margin is the main culprit behind bitcoin's directionless trading, making it vulnerable to any outside pressure, Hunter Rogers, co-founder of the bitcoin yield protocol TeraHash, said in a note.
"I think we’re now seeing an exhausted market," he said. "In that environment, even mild selling activity pushes the market lower."
He added that BTC needs to hold the $80,000-$85,000 area as support, which could decide if fresh lows or a more sustainable rebound come next.
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Protocol Research: GoPlus Security
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- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Robinhood looks better placed than Coinbase for prediction-market upside, Mizuho says
Robinhood stands to gain more from prediction markets than Coinbase as users plan to deploy fresh capital rather than sell existing crypto, the bank said.
What to know:
- Robinhood and Coinbase users are about nine times more likely to use prediction markets than non-users, Mizuho found.
- About 50% of Robinhood users plan to invest new money in prediction markets, while 37% of Coinbase users expect to sell cryptocurrency to fund their activity, according to the report.
- The bank raised its Robinhood 2026–2027 revenue estimates and kept its $172 price target, while trimming Coinbase’s target to $280.
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