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After several days of charting new peaks and coming less than $200 away from $100,000, bitcoin’s price has taken a breather and has dropped by over four grand since Friday’s high.
Several of the high-flying altcoins on Saturday have reversed their trajectory as well, with XRP, DOGE, and ADA dumping hard from the larger caps.
CryptoPotato <a href="https://cryptopotato.com/double-digit-price-surges-from-these-altcoins-as-btc-was-stopped-before-100k-weekend-watch/" data-wpel-link="internal" rel="noopener noreferrer nofollow">reported</a> yesterday BTC’s impressive surge that resulted in the asset exceeding $99,800 on most exchanges to chart its latest all-time high. While the community was preparing for a run toward and beyond $100,000, though, the cryptocurrency lost its momentum and started to retrace.
At first, it dropped to $98,000 on Sunday, as <a href="https://cryptopotato.com/xlm-rally-continues-with-485-monthly-surge-btc-cools-off-to-98k-weekend-watch/" data-wpel-link="internal" rel="noopener noreferrer nofollow">reported</a> earlier, but the bears kept the pressure on and bitcoin fell even further to under $96,000. Its market cap has slipped below $1.9 trillion after losing over $60 billion since Friday.
<figure id="attachment_372033" aria-describedby="caption-attachment-372033" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/11/BTCUSD-30.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-372033" src="https://cryptopotato.com/wp-content/uploads/2024/11/BTCUSD-30.png" alt="Bitcoin/Price/Chart 24.11.2024. Source: TradingView" width="1835" height="819" srcset="https://cryptopotato.com/wp-content/uploads/2024/11/BTCUSD-30.png 1835w, https://cryptopotato.com/wp-content/uploads/2024/11/BTCUSD-30-300x134.png 300w, https://cryptopotato.com/wp-content/uploads/2024/11/BTCUSD-30-1024x457.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/11/BTCUSD-30-768x343.png 768w, https://cryptopotato.com/wp-content/uploads/2024/11/BTCUSD-30-1536x686.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/11/BTCUSD-30-50x22.png 50w" sizes="(max-width: 1835px) 100vw, 1835px"></a>
 <figcaption id="caption-attachment-372033" class="wp-caption-text">
 Bitcoin/Price/Chart 24.11.2024. Source: TradingView
 </figcaption>
</figure>
Many altcoins have dumped even harder in the past day, though. <a href="https://cryptopotato.com/3-possible-reasons-behind-ripples-xrp-15-surge-past-1-6/" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP</a> is the leader after dropping by 11% from its local peak of over $1.6 to $1.34. <a href="https://cryptopotato.com/cardano-ada-shoots-up-by-23-daily-to-above-1-surpasses-usdc/" data-wpel-link="internal" rel="noopener noreferrer nofollow">ADA</a> follows suit with a 9% decline that has taken it to under $1.
Some losses are evident from the ever-volatile meme coin sector, with BRETT down by 10%, followed by BONK (-9%), FLOKI (-8%), and WIF (-7.5%).
Dogecoin is also in the red, dropping from nearly $0.5 on Saturday morning to $0.41 now.
This substantial volatility has harmed over-levaraged traders, with nearly 200,000 such market participants wrecked in the past 24 hours. The total value of liquidated positions is up to almost $500 million. Naturally, the lion’s share belong to longs, with $383 million.
The largest single one took place on Binance and was worth over $13 million.
<figure id="attachment_372034" aria-describedby="caption-attachment-372034" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/11/Screenshot-2024-11-24-200759.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-372034" src="https://cryptopotato.com/wp-content/uploads/2024/11/Screenshot-2024-11-24-200759.png" alt="Liquidation Heat Map. Source: CoinGlass" width="1361" height="451" srcset="https://cryptopotato.com/wp-content/uploads/2024/11/Screenshot-2024-11-24-200759.png 1361w, https://cryptopotato.com/wp-content/uploads/2024/11/Screenshot-2024-11-24-200759-300x99.png 300w, https://cryptopotato.com/wp-content/uploads/2024/11/Screenshot-2024-11-24-200759-1024x339.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/11/Screenshot-2024-11-24-200759-768x254.png 768w, https://cryptopotato.com/wp-content/uploads/2024/11/Screenshot-2024-11-24-200759-50x17.png 50w" sizes="(max-width: 1361px) 100vw, 1361px"></a>
 <figcaption id="caption-attachment-372034" class="wp-caption-text">
 Liquidation Heat Map. Source: CoinGlass
 </figcaption>
</figure>
The post <a href="https://cryptopotato.com/500m-in-liquidations-as-bitcoin-dumps-below-96k-ripple-down-10-daily/" rel="noopener noreferrer nofollow">$500M in Liquidations as Bitcoin Dumps Below $96K, Ripple Down 10% Daily</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

$500M in Liquidations as Bitcoin Dumps Below $96K, Ripple Down 10% Daily

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