Bitcoin surged then crashed, leaving investors terrified.

(Dan Tri Newspaper) - Bitcoin prices fluctuated sharply today, unexpectedly surging to $90,000/BTC before quickly falling to around $85,000, triggering a widespread decline across the cryptocurrency market.

The price of Bitcoin unexpectedly surged from $87,000 to $90,000/BTC in just about 30 minutes, before plummeting rapidly back to the $85,000 range.

Bitcoin investors have just witnessed a price movement likened to the "Bart Simpson pattern." This pattern resembles the head of the famous cartoon character from the Simpsons series, where the price suddenly spikes, stabilizes briefly, and then quickly drops sharply back to its original level.

The decline in Bitcoin also cast a shadow over the entire cryptocurrency market. Ethereum, the world's second-largest cryptocurrency, lost 3.4%, falling to around $2,800. Other tokens such as XRP, BNB, and Solana fell by 4%, 3.67%, and 3.68%, respectively.

The drop in the world's largest cryptocurrency coincided with a decline in the Nasdaq index, amid signs of cooling AI craze and a sharp drop in most semiconductor company stocks.

The US Federal Reserve (Fed) has just decided to cut interest rates by 25 basis points. Previously, many investors expected Bitcoin to benefit as a safe haven. However, reality shows that money is flowing more strongly into precious metals, while the cryptocurrency market continues to face downward pressure.

Specifically, in contrast to the performance of cryptocurrencies, precious metals such as gold and silver continued to rise in price, approaching all-time highs.

Bitcoin price surged then suddenly dropped sharply (Image: Binance).

According to Jasper De Maere, a strategist at Wintermute, the price of Bitcoin could be held in the $86,000-$92,000 range due to the current high volatility in the accumulation phase. He suggests that investors need to familiarize themselves with highly volatile charts, similar to the "Bart Simpson pattern".

However, De Maere noted that one shouldn't rely too heavily on technical indicators at this time. Over the next two weeks, investors may consider taking profits due to year-end portfolio restructuring and tax-related factors. "People are scaling back positions to take a break. Short-term rallies are often quickly sold off," he told CoinDesk.

He predicted that Bitcoin would continue to trade sideways until new influencing factors emerge, such as the expiration of large options contracts at the end of December. At the same time, he suggested that current signals indicate the market is gradually bottoming out and a sharp sell-off could occur in the short term.

Source: https://dantri.com.vn/kinh-doanh/bitcoin-tang-vot-roi-sap-manh-nha-dau-tu-so-hai-20251218144300769.htm