Bitcoin Price Drop Today: Crypto Market Faces Major Liquidations

Bitcoin’s price has seen a sharp decline recently, causing ripples throughout the crypto market. As of December 1, 2025, Bitcoin is trading at SGD 90,369.51, down 1.02%, leading to a massive sell-off. This decline isn’t confined to Bitcoin alone; it has sparked liquidations of approximately SGD 637 million across the market. These liquidation events are driven by the unwinding of long positions, impacting Ethereum (ETHUSD) and XRP (XRPUSD) significantly. Understanding the mechanisms behind this drop is crucial for investors navigating this volatile space. Let’s delve into the details.