The stability around the $90,000 mark was short-lived as Bitcoin faced another sharp decline on Monday during early US trading hours. Initially hovering near $90,000, it quickly dropped to a two-week low at $86,700.

BTCUSD Dec 15

Source: TradingView

As previously indicated, the upcoming week is expected to experience significant volatility due to major economic data releases. Currently, no specific reason has emerged for the price downturn, other than shifting expectations regarding the next Federal Reserve chair, as noted by Walter Bloomberg.

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Kevin Warsh takes the lead at 49%, edging out Kevin Hassett at 48%, with Christopher Waller at 4%. CNBC reports that Hassett’s candidacy is facing challenges due to his connections with Trump, raising concerns about the Fed’s independence. Markets are reacting swiftly as Warsh… — Walter Bloomberg (@DeItaone) December 15, 2025

Besides Bitcoin, numerous altcoins followed suit with declines. Ethereum is nearing a pivotal point, risking a fall under $3,000 after a significant drop of 4.4% within the last hour. Analyst warnings suggest ETH might plunge to about $2,500 soon.

XRP saw a 3% decline, losing the crucial $2.00 support level. BNB also fell by 4% in a similar timeframe. Consequently, the total value of liquidated positions is on the rise. Just in the past hour, approximately $210 million worth of primarily long positions have been eliminated, while total liquidations over the past day reached $450 million.

BTC and ETH are responsible for the bulk of this loss, with $66 million and $65 million in liquidations respectively, affecting around 145,000 traders overnight.

Liquidation Data on CoinGlass

Liquidation Data Source: CoinGlass