$2,020,000,000 in Bitcoin and Crypto Liquidated As BTC Plummets Below $100,000
Bitcoin and crypto assets faced significant price declines to start the week amid a broader equity market pullback. Over $2.02 billion in leveraged crypto positions were liquidated in the past 24 hours, with Bitcoin's price dropping below $100,000 for the first time since June, hitting a low of $99,075. This represents a 21.3% decline from its all-time high of $126,000 on October 6th, primarily due to whale profit-taking. Bitcoin is now priced at $101,033, down 4.3% in the last 24 hours. Ethereum led today's liquidations with $655 million, followed by $615 million in Bitcoin and $123 million in Solana. The crypto market decline coincides with a retreat in the stock market, spurred by concerns over potentially inflated AI-related stock valuations. Major indices such as the S&P 500, Nasdaq, and Dow also experienced declines.
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Crypto Market Faces Significant Decline
Bitcoin and crypto asset prices are struggling at the start of the week, mirroring a broader sell-off in the equity markets. In the last 24 hours, $2.02 billion in leveraged crypto positions have been liquidated, according to market data tracker CoinGlass.
Bitcoin Drops Below $100,000
The liquidations occurred as BTC fell below $100,000 for the first time since June, reaching a low of $99,075. This represents a 21.3% decline from its all-time high of $126,000 on October 6th, largely driven by whale profit-taking.
Current Bitcoin Price and 24-Hour Performance
As of the time of publishing, Bitcoin is priced at $101,033, reflecting a 4.3% drop in the last 24 hours. The sell-off has disproportionately impacted traders who were going long on cryptocurrencies.
Ethereum and Solana Liquidations Lead Losses
Ethereum led the liquidations with a total of $655 million wiped out. This was followed by $615 million in Bitcoin liquidations and $123 million in Solana liquidations.
Broader Market Challenges Impact Crypto
Today's crypto market drop aligns with troubles in the stock market, as investors grapple with concerns over whether AI-related stock valuations are inflated. The S&P 500 fell 1.17% to 6,771, the Nasdaq declined 2.04% to 23,348, and the Dow Jones dropped 0.53% to 47,085.