Crypto Market News Today, December 6: Crypto is Down, and Liquidations Are the Bitcoin Cycle’s Newest Trend as Michael Burry Piles Shorts
Crypto is down again, and the drop is chewing our portfolios as we see the rise in crypto liquidations and debate on Michael Burry and his Bitcoin comments. With crypto down across major assets and liquidations climbing, we are questioning why Bitcoin is falling even while traditional markets are up.
What deepens the discussion is how often Michael Burry skepticism on Bitcoin comes during these volatility spikes, especially when crypto is down without any direct negative catalyst. As the crypto market absorbs the latest wave of liquidations, the vibe has shifted from surprise to concern.
Crypto Fear and Greed Chart
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Another Crypto Liquidations Despite Strong Markets
The strangest part of today’s liquidations is the assets contradiction: Nasdaq is up, silver is pumping, and the S&P 500 is green, yet crypto is down. And Bitcoin is shedding 3% on the day.
All those above intensified the rush of liquidations, creating a cascade that reminded many of earlier crypto shakeouts. Right now, Bitcoin briefly fell toward the $89,000 area, distancing itself from the October high and adding pressure just as we hoped for stabilization.
Earlier in the day, bullish PCE data sparked a sharp jump in BTC and ETH, but the momentum evaporated fast. Within 30 minutes, nearly $100 million in long positions vanished in fresh crypto liquidations. The total has now climbed above $414 million for this session alone.
(source – Liquidation Data, Coinglass)
Looking back to the October 10 flash crash, the scale becomes clearer as that single day saw a staggering $19 billion liquidated as Bitcoin plunged from $126,000 to $110,000. Since the disastrous event, waves of follow-up selling have cleared out more than $637 million in additional positions. Crypto is down feels like an understatement.
However, despite the turbulence, the total crypto market cap still hovers near $3.1 trillion, rebounding from a low critical level of $2.9 trillion. These levels often mark turning points, though crypto liquidations prolong volatility and weaken confidence.
(source – Total Crypto Market Cap, TradingView)
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Michael Burry Bitcoin Skepticism Comes as Crypto Is Down
In his first interview in more than ten years, Michael Burry criticism is violent. Burry compared Bitcoin to a tulip bulb, claiming it’s worthless and vulnerable to crime.
He drew the Bitcoin comparison from gold, which he has viewed as a stable store of value since 2005. His bearish stance is shifting the vibe at a moment when crypto is down, and sentiment already feels fragile.
Michael Burry of The Big Short fame gives first interview in over 10 years and says, “Bitcoin is not worth anything. It’s the tulip bulb of our time.” pic.twitter.com/ge1zteSVqS
— Documenting ₿itcoin
(@DocumentingBTC) December 4, 2025
Not just Bitcoin, Michael Burry predicts a bigger crash, worse than the dot-com bust, citing overstretched valuations and mounting consumer debt. His short positions in Nvidia, Tesla, and Palantir, along with his fund deregistration, bring debate over if markets have grown too euphoric. But critics argue that these companies remain profitable.
Countering the gloom is Samuel Benner’s 1875 cycle chart. It labeled 2023 as a hardship year and a strong time to accumulate risk assets, including crypto(if it was available during his time), with a projected market top in 2026. Even now, as crypto is down, the pattern shows opportunity, a year away from collapse, if it is to collapse.
Benner 1875 cycle chart
And so, as the market waits, crypto is down, and liquidations continue, but experienced cycle traders insist recovery often begins right where fear peaks, and where traders least expect it.
This Saturday, enjoy the weekend, touch grass, and decorate the Christmas tree, cause Santa Claus is coming to town.
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SUI Crypto ETF With 2x Leverage Green Lighted by SEC: Bitcoin Layer-2 Next?
The SEC’s approval of the new 2x leveraged SUI Crypto ETF landed with good timing. Right when the market seems to crave the next regulatory surprise.
This green light gives SUI another push into the institutional spotlight, and the arrival of a leveraged crypto ETF on Nasdaq gives traditional investors a way to ride SUI’s daily moves without touching the token itself.
The hammer also hits a sign that regulators are warming up to altcoin ETFs after months of approvals across the crypto market, and it adds fuel to the growing Sui’s efficient network.
Read the full story here.
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Is the Hawk Tuah girl Crypto coin making a comeback? Hailey Welch, the viral “Hawk Tuah” star whose 2024 catchphrase became internet currency, is now facing a very real legal one.
In case you don’t remember:
- Welch ran a crypto rugpull scam
- After stealing millions from her followers, she took the road
Actually, it wasn’t even millions. She maybe gotten a few hundred thousand, which ain’t bad, but it destroyed her “career” as a result. Meanwhile, there’s a new development with Welch being added to a federal class action lawsuit alleging she played a key promotional role in the failed HAWK token.
Read the full story here.
The post Crypto Market News Today, December 6: Crypto is Down, and Liquidations Are the Bitcoin Cycle’s Newest Trend as Michael Burry Piles Shorts appeared first on 99Bitcoins.