Bitcoin

Billion

Bitcoin’s latest price rejection at the coveted $100,000 mark has pushed the asset south hard, dumping by about six grand in hours.
The altcoins followed suit with massive losses from most of them, including double-digit price declines from WIF, TIA, FIL, APT, LTC, and others.
<figure id="attachment_374070" aria-describedby="caption-attachment-374070" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/12/BTCUSD-8.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-374070" src="https://cryptopotato.com/wp-content/uploads/2024/12/BTCUSD-8.png" alt="Bitcoin/Price/Chart 9.12.2024. Source: TradingView" width="1835" height="819" srcset="https://cryptopotato.com/wp-content/uploads/2024/12/BTCUSD-8.png 1835w, https://cryptopotato.com/wp-content/uploads/2024/12/BTCUSD-8-300x134.png 300w, https://cryptopotato.com/wp-content/uploads/2024/12/BTCUSD-8-1024x457.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/12/BTCUSD-8-768x343.png 768w, https://cryptopotato.com/wp-content/uploads/2024/12/BTCUSD-8-1536x686.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/12/BTCUSD-8-50x22.png 50w" sizes="(max-width: 1835px) 100vw, 1835px"></a>
 <figcaption id="caption-attachment-374070" class="wp-caption-text">
 Bitcoin/Price/Chart 9.12.2024. Source: TradingView
 </figcaption>
</figure>
Shortly after CryptoPotato’s <a href="https://cryptopotato.com/altcoins-in-retreat-as-bitcoin-btc-falls-further-away-from-100k-market-watch/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Market Watch</a> from the morning, BTC actually went on the offensive and jumped above $100,000. However, that was short-lived, and the asset slumped below it almost immediately.
It lost a few grand and calmed at $98,000 in the following hours before the bears were able to take complete control of the market minutes ago and propelled a massive leg down.
In it, BTC’s price tumbled by four grand within an hour or so and dumped to a multi-day low of $94,300 (on Bitstamp). It managed to bounce off immediately and now sits close to $97,000, but the landscape is quite worrisome for over-leveraged traders.
Data from CoinGlass shows that the total value of wrecked positions in the past 24 hours has shot up to nearly $1.5 billion. Moreover, the number is close to $900 million in the last hour alone. More than 500,000 market participants have been wrecked in the past day.
<figure id="attachment_374071" aria-describedby="caption-attachment-374071" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/12/Screenshot-2024-12-09-231639.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-374071" src="https://cryptopotato.com/wp-content/uploads/2024/12/Screenshot-2024-12-09-231639.png" alt="Liquidation Heat Map. Source: CoinGlass" width="1358" height="449" srcset="https://cryptopotato.com/wp-content/uploads/2024/12/Screenshot-2024-12-09-231639.png 1358w, https://cryptopotato.com/wp-content/uploads/2024/12/Screenshot-2024-12-09-231639-300x99.png 300w, https://cryptopotato.com/wp-content/uploads/2024/12/Screenshot-2024-12-09-231639-1024x339.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/12/Screenshot-2024-12-09-231639-768x254.png 768w, https://cryptopotato.com/wp-content/uploads/2024/12/Screenshot-2024-12-09-231639-50x17.png 50w" sizes="(max-width: 1358px) 100vw, 1358px"></a>
 <figcaption id="caption-attachment-374071" class="wp-caption-text">
 Liquidation Heat Map. Source: CoinGlass
 </figcaption>
</figure>
The altcoins faced similar volatility, with numerous massive losers over the past 24 hours, as mentioned above. In fact, the single-largest wrecked position involved ETH and was worth nearly $20 million.
The total crypto market cap went from $3.750 trillion to under $3.5 trillion before it recovered some ground at $3.610 trillion as of press time.
The post <a href="https://cryptopotato.com/over-1-4-billion-in-liquidations-as-bitcoin-btc-dumps-by-6k-in-hours/" rel="noopener noreferrer nofollow">Over $1.4 Billion in Liquidations as Bitcoin (BTC) Dumps by $6K in Hours</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Over $1.4 Billion in Liquidations as Bitcoin (BTC) Dumps by $6K in Hours

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