Ethereum

Bitcoin

Arkham

The global digital assets market registered minor correction hours after Bitcoin breakthrough above the historical milestone of $100,000. Crypto bulls, who were hoping the upward run would continue, saw major liquidations as BTC rapidly dropped below the $96,000 price level. 
The cumulative crypto market collapsed by around 2% over the last 24 hours to stand at $3.6 trillion. The 24 hour trading volume is down by 12%, hitting the $308 billion mark. However, some of the biggest altcoins like Ethereum (ETH) and Solana (SOL) remained marginally up while other printed red indexes. 
<h3 id="span-style-font-weight-400-bitcoin-bulls-see-red-span">Bitcoin bulls see red</h3> 
As per the <a href="https://www.coinglass.com/LiquidationData" rel="nofollow noopener" target="_blank">data</a> shared by CoinGlass, more than 156k traders were liquidated over the last day as the crypto liquidation (including both long and short positions) went to breach the $875 million mark. The largest single liquidation order of BTC/USDT (approx. worth $18.94 million) happened on the crypto exchange OKX. 
Over $702 million worth of liquidation positions (80%) turned out to be long bets. <a href="https://www.cryptopolitan.com/wall-street-bulls-hail-bitcoins-100k-bullish/">Bitcoin bulls</a> weighing on an upward rally to push for more, single-handedly recorded liquidation of $415 million. The <a href="https://www.cryptopolitan.com/bitcoins-aggressive-100k-rise-will-bring-out-the-holiday-effect/">BTC price</a> dropped by more than 4% in the last 24 hours. The biggest crypto has managed to recover after falling straight to the $94,000 price zone from $100k. Bitcoin is trading at an average price of $98,299, at press time. 
<figure id="attachment_623659" aria-describedby="caption-attachment-623659" style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" class="wp-image-623659 size-full" src="https://www.cryptopolitan.com/wp-content/uploads/2024/12/image-2-1.png" alt="Crypto bulls bleed, nearly $1 billion liquidated as BTC plunges below $96K" width="720" height="342" srcset="https://www.cryptopolitan.com/wp-content/uploads/2024/12/image-2-1.png 720w, https://www.cryptopolitan.com/wp-content/uploads/2024/12/image-2-1-300x143.png 300w" sizes="(max-width: 720px) 100vw, 720px">
 <figcaption id="caption-attachment-623659" class="wp-caption-text">
 Source: CoinGlass
 </figcaption>
</figure> 
Arkham data shows that Mt. Gox transferred 3,493 BTC (approx. worth $340 million) to the new address (1MAXy6). It added that the exchange moved 126.57 BTC (approx. worth $12 million) to an address labeled as bc1qkf. This move has sparked sell-off fear among the holders. 
<h3 id="span-style-font-weight-400-crypto-etfs-are-so-back-span">Crypto ETFs are so back</h3> 
<a href="https://www.cryptopolitan.com/us-bitcoin-etfs-now-hold-5-of-total-supply/">Bitcoin spot ETF</a> reported a total net inflow of $767 million on December 5. This marks the sixth consecutive day of net inflow. BlackRock’s IBIT saw an inflow of over $2.5 billion in the last five days and its cumulative inflow has now hit $34.11 billion. This has been the most inflow among all ETFs. IBIT had a single-day net inflow of $771 million over the last day. 
Ethereum spot ETFs are also receiving huge inflow as the investors look positive on the crypto market. ETH ETFs had a total net inflow of $428 million on December 5. The largest since launch, marking 9 consecutive positive days, the longest streak yet. It has surpassed $1 billion in cumulative net inflows after 96 trading days. 
BlackRock’s ETHA led the way by adding $293 million per day, while Fidelity FETH had a net inflow of $114 million per day. <a href="https://www.cryptopolitan.com/ethereum-price-prediction/">ETH</a> price is up by 50% in the last 30 days. Ether is trading at an average price of $3,887, at press time. 
From Zero to Web3 Pro: Your 90-Day <a href="https://www.cryptopolitan.com/crypto-career-launchpad-waitlist/?utm_source=cryptopolitan&amp;utm_medium=banner&amp;utm_campaign=ccl-waitlist-3" target="_blank">Career Launch Plan</a>

Crypto bulls bleed, nearly $1 billion liquidated as BTC plunges below $96K

Table of Contents

Cryptopolitan_News

Other articles published on Dec 6, 2024

SHIB Community Stunned by 144,045% Surge in SHIB Burns, Ripple Breaks Silence on RLUSD Stablecoin...

BTC's Roller Coaster Ride: Massive Sell Wall Causes Slump

Weren’t There for Cat in a Dog’s World’s ICO? Make Up for Your Lost Chance with BTFD Coin’s Ongoi...

Beyond Gaming: How Robux, MANA, Holichain from Lado Okhotnikov and Other Metaverse Tokens Are Fue...

Why Would Prosecutor Matthew J. Kluge Risk His Career on an Unconstitutional Law?

Investors pile a record $432M into Ether ETFs amid 9 days of inflows

Join our free newsletter for daily crypto updates!