Bitcoin briefly surpassed the $100,000 mark before dropping below $96,000 with a 3.2% decline within an hour. The drop was triggered by $450 million worth of liquidations in the cryptocurrency market. Experts believe the price surge was due to liquidation of short positions, which typically leads to a drop in price. Traders are cautious ahead of the Federal Reserve meeting and anticipate developments that could impact Bitcoin's movement. The fall also caused losses in the derivatives market, with over $400 million in liquidations from long traders. Other altcoins, including Ripple's XRP, also experienced declines.
- Content Editor ( cryptonewsz.com )
- 2024-12-06
Bitcoin Crashes Below $95,000; Party Over?