Crypto markets slid sharply on Dec. 15 as Bitcoin (BTC) fell below $86,500, dragging major altcoins lower and triggering a fresh wave of liquidations.
The sudden move erased intraday gains and pushed sentiment deeper into fear territory as traders braced for a volatile week of U.S. macroeconomic data.
At the time of writing, Bitcoin was trading near $86,300, down roughly 3% over 24 hours. Ether (ETH) slipped about 3.7% to $2,960, while XRP (XRP) dropped more than 4% to around $1.90, according to CoinGecko data.
The total crypto market capitalization hovered near $3 trillion, with selling pressure visible across most major tokens.
Liquidations accelerated alongside the price drop. Data from CoinGlass showed more than $537 million in crypto positions wiped out over the past 24 hours, with long positions accounting for roughly $450 million. Bitcoin alone saw over $115 million in liquidations, while Ether followed with more than $110 million.
Accusations of coordinated selling surface
As prices slid, social media quickly lit up with accusations of manipulation.
On-chain analytics account DeFiTracer claimed in a Dec. 15 post that “Binance and Wintermute [were] dumping millions of $BTC,” adding that over $100 million in long positions were liquidated in minutes and calling the move “pure manipulation.”
Another post by CryptoNobler alleged that exchanges and funds were “aggressively dumping Bitcoin,” listing large BTC outflows attributed to Binance, Coinbase, Wintermute and others.
Some traders also accused exchanges and market makers of manipulation, while others argued the selloff reflected routine liquidity flows and user-driven selling.
TheStreet Roundtable could not independently verify whether Binance or Wintermute were actively selling Bitcoin at the time of the move.
Japan’s BOJ ETF “sell-off” chatter adds another layer
Another macro theme gaining attention is Japan’s central bank signaling a slow retreat from years of ultra-loose policy.
In a Dec. 15 post, Crypto Gentlemen noted that the Bank of Japan (BOJ) has indicated it may begin selling portions of its exchange-traded fund (ETF) holdings as early as January, marking a cautious step away from extraordinary market support.
While the BOJ has discussed ways to eventually unwind ETF holdings, Japanese media and global outlets have reported that officials are weighing an ultra-gradual pace – around ¥330 billion (about $2.1 million – $2.3 million) per year – specifically to avoid shocking markets.
