CandleFocus Over $1.4 Billion in Liquidations as Bitcoin (BTC) Dumps by $6K in Hours
2024-12-09
Author: Content Editor
Bitcoin experienced a sharp decline after failing to break through the $100,000 mark, losing around $6,000 in a short period of time. This downward movement also affected altcoins, with several of them experiencing double-digit losses. Bitcoin briefly surpassed $100,000 but quickly dropped below it, reaching a low of $94,300 before bouncing back to around $97,000. Over-leveraged traders are facing a worrisome situation. The total value of wrecked positions in the past 24 hours rose to almost $1.5 billion, with over 500,000 market participants affected. Altcoins also saw significant volatility, with Ethereum experiencing the largest wrecked position worth nearly $20 million. The total crypto market cap dropped from $3.75 trillion to under $3.5 trillion before recovering slightly to $3.61 trillion.
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