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Crypto Market Sees Significant Sell-Off Led by DePIN Tokens on December 16, 2025
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The cryptocurrency market experienced a notable sell-off on December 16, 2025, with DePIN tokens leading the decline by falling nearly 6%. Bitcoin dropped about 4%, slipping below the $86,000 mark, while Ethereum declined more than 4%, falling under $3,000.
Weakness was observed broadly across multiple sectors including Layer 1s, Layer 2s, DeFi, PayFi, and CeFi. Total liquidations in the last 24 hours reached approximately $583 million, predominantly affecting long positions.
The Crypto Fear & Greed Index plummeted to 11, indicating a state of extreme fear among investors.
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