Ethereum

Flow

Major

Bitcoin

<ul class="wp-block-list">
 <li>Bitcoin’s price plummeted to the $91K zone, marking a 7% decline from its high of $98,360.</li>
 <li>Over $687 million in crypto liquidations occurred, with BTC alone accounting for $178.25 million.</li>
</ul>
Just an hour before, Bitcoin (BTC) saw a significant drop in the Asian trading hours, plunging into the $91K range after a loaded crypto liquidation totaling $687 million. BTC alone accounted for $178.25 million in liquidations, reflecting the market’s struggle with overheating leverage positions and profit-taking among holders.&nbsp;
Over the past 24 hours, Bitcoin’s price fell by more than 7%, dipping from a high of $98,360 to an intraday low of $91,463.
This sharp decline led the broader cryptocurrency <a href="https://thenewscrypto.com/why-is-the-global-crypto-market-down-today/" target="_blank" rel="noopener noreferrer nofollow">market into a downward</a> spiral, with altcoins like Ethereum (ETH), BNB, and XRP all experiencing losses between 5% and 10%, respectively. At press time, Bitcoin is trading at $91,902 with a market cap of $1.82 trillion.
<h3 class="wp-block-heading" id="h-bitcoin-btc-faces-short-term-setback">Bitcoin (BTC) Faces Short-Term Setback</h3>
The sudden pullback comes after Bitcoin failed to reach the highly anticipated <a href="https://thenewscrypto.com/bitcoin-faces-worst-drop-since-trumps-win-drops-below-100000/" target="_blank" rel="noopener noreferrer nofollow">$100K milestone</a>, despite expectations fueled by the Trump presidency’s impact on crypto. Traders were caught off guard as Bitcoin’s price dropped nearly 8.22% from its all-time high of $99,655, which was recorded on Nov 23.
Despite this short-term dip, analysts remain optimistic about Bitcoin’s long-term outlook. Technical indicators such as the RSI at 62 and a Chaikin Money Flow of 0.18 suggest moderate buying pressure, indicating the potential for further upward movement without immediate reversal risks.
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="482" src="https://thenewscrypto.com/wp-content/uploads/2024/11/image-216-1024x482.png" alt="" class="wp-image-115706" srcset="https://thenewscrypto.com/wp-content/uploads/2024/11/image-216-1024x482.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/11/image-216-300x141.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/11/image-216-768x362.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/11/image-216.png 1301w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">Bitcoin (BTC) Price Chart (Source: <a href="https://in.tradingview.com/symbols/BTCUSDT/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div>
On the other hand, BTC’s price dropping below both the 20-day EMA and 50-day SMA signals a short-term bearish trend with increased selling pressure. This indicates a potential for correction or consolidation before a continued upward move.

Bitcoin Pullbacks to $91K Following Major Liquidations

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