You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/market-faces-major-liquidation-as-bitcoin-price-plummets/" data-wpel-link="internal">Market Faces Major Liquidation as Bitcoin Price Plummets</a> 
This morning, we witnessed a significant liquidity hunt as the price of BTC spiked to $94,150. The sudden drop, reported in the last minute, led to nearly $900 million worth of positions being liquidated within minutes. Previously, BTC experienced a similar spike at $90,500, but altcoins did not incur such large losses. 
<h2 style="text-align: justify" id="cryptocurrency-drop">Cryptocurrency Drop</h2> 
In the last 24 hours, $1.5 billion in long positions were liquidated across cryptocurrencies. ETH faced the largest losses, with $250 million worth of liquidations, surpassing BTC. Following a price surge over $4,000, the rapid decline to the $3,400 region, although not heavily leveraged, negatively impacted those holding long positions. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-413392 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/12/tasfiyeler-10-aralik-dususu-1.png" alt="" width="737" height="462"> 
Bloomberg reported an outflow of $2 billion from IBIT ETF earlier today. However, these outflows have yet to be reflected on Farside screens. Additionally, since FBTC saw an inflow of $175 million, it appears that the total net inflow on December 9 was $85 million. Should the IBIT outflows be confirmed, it would validate the trend of rapid profit-taking among institutions. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-413393 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/12/9-aralik-ETF-verileri.png" alt="" width="1280" height="727"> 
<h2 style="text-align: justify" id="current-status-of-altcoins">Current Status of Altcoins</h2> 
SOL, DOGE, XRP, <a href="https://en.coin-turk.com/bnb-coin-targets-new-highs-with-strong-market-support-2/" data-wpel-link="internal">BNB</a>, PEPE, and <a href="https://en.coin-turk.com/cardano-navigating-market-trends-amidst-prolonged-bitcoin-stability/" data-wpel-link="internal">ADA</a> Coin experienced significant liquidations ranging from $59 million to $23.3 million. In the past 24 hours, POPCAT, IOTA, WIF, FLOW, BRETT, SAND, and MANA saw the largest losses, exceeding 18%. The fear and greed index fell approximately 10 points to a level of 76 after the recent drop. 
According to CMC data, Bitcoin ‘s market dominance climbed to 55.6%, with volumes nearing $350 billion, representing a more than 100% increase in the last 24 hours. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-413394 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/12/SHIBUSDT_2024-12-10_08-48-15.png" alt="" width="1814" height="836"> 
Yesterday, <a href="https://en.coin-turk.com/shiba-inus-burning-activity-soars-shib-price-rises/" data-wpel-link="internal">Shiba</a> Coin spiked to $0.00002424, resulting in a 25% drop on the daily chart. Although it has rebounded to $0.000026, the price returning to levels seen at the end of November has caused panic among investors. 
Even during bullish market conditions, we noted that such double-digit declines are typical due to the high interest in futures trading. Following BTC’s record high above $104,000, preparations may begin for the upcoming U.S. inflation report and the Fed’s interest rate decision on December 18, leading to Trump’s inauguration in January. 
The post <a href="https://en.coin-turk.com/market-faces-major-liquidation-as-bitcoin-price-plummets/" data-wpel-link="internal">Market Faces Major Liquidation as Bitcoin Price Plummets</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Market Faces Major Liquidation as Bitcoin Price Plummets

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