{"id":25043,"date":"2024-12-20T06:35:25","date_gmt":"2024-12-20T06:35:25","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/?p=25043"},"modified":"2024-12-20T06:35:25","modified_gmt":"2024-12-20T06:35:25","slug":"bitcoin-plummets-below-100k-crypto-liquidations-surge-close-to-800-million","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/bitcoin-plummets-below-100k-crypto-liquidations-surge-close-to-800-million\/","title":{"rendered":"Bitcoin Plummets Below $100K: Crypto Liquidations Surge Close to $800 Million"},"content":{"rendered":"\n<p>Recent data indicates a significant number of liquidations occurred on cryptocurrency exchanges within the last day, following a downturn in both Bitcoin and altcoin prices.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_and_Altcoins_Experience_Significant_Downturns\"><\/span>Bitcoin and Altcoins Experience Significant Downturns<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The cryptocurrency market faced considerable volatility yesterday, triggered by the US Federal Reserve&#8217;s cautious stance on interest rate cuts during the recent Federal Open Market Committee (FOMC) meeting.<\/p>\n<p>In response, many Bitcoin investors sold off, driving the coin\u2019s price below $99,000 briefly. Fortunately, it quickly bounced back.<\/p>\n<p><\/p>\n<p>As seen in the chart, Bitcoin has now climbed back above $102,400, reflecting a decline of less than 3% over the past 24 hours. In contrast, most altcoins are faring worse, with Ethereum, for instance, dropping by 5% during the same period.<\/p>\n<p>This widespread decline across the market has also upset the derivatives sector.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Massive_Liquidations_Hit_Crypto_Long_Positions\"><\/span>Massive Liquidations Hit Crypto Long Positions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/LiquidationData\" target=\"_blank\" rel=\"noopener nofollow\">CoinGlass<\/a> reveals that the cryptocurrency derivatives market saw massive liquidations in the last day. A &#8220;liquidation&#8221; occurs when open contracts are forcibly closed after reaching certain loss thresholds.<\/p>\n<p>The following table presents details regarding the recent market liquidation:<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" data-recalc-dims=\"1\" class=\"alignnone size-medium wp-image-356400 aligncenter\" src=\"https:\/\/www.bitrabo.com\/discover\/wp-content\/uploads\/2024\/12\/Crypto-Liquidations-Near-800-Million-After-Bitcoins-Crash-Under-100000.png\" alt=\"Bitcoin &amp; Crypto Liquidations\" width=\"552\" height=\"301\" \/><\/p>\n<p>The data shows nearly $790 million in cryptocurrency liquidations over the past day, with long positions accounting for $662 million\u2014about 84% of the total. This is primarily attributed to the market&#8217;s broad downturn.<\/p>\n<p>Bitcoin and Ethereum were the main contributors to these liquidations.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"alignnone wp-image-356425 size-large aligncenter\" src=\"https:\/\/www.bitrabo.com\/discover\/wp-content\/uploads\/2024\/12\/1734676445_137_Crypto-Liquidations-Near-800-Million-After-Bitcoins-Crash-Under-100000.png\" alt=\"Bitcoin &amp; Other Cryptos\" width=\"787\" height=\"358\" loading=\"lazy\" \/><\/p>\n<p>Additionally, other assets like XRP, Dogecoin, and Solana each contributed $40 million, $29 million, and $23 million in liquidations, respectively.<\/p>\n<p>Mass liquidation events, known as squeezes, are relatively common in the volatile cryptocurrency market where leveraged trading is quite popular. However, the degree of this recent event is significant, highlighting the speculative nature prevailing in the current bullish trend.<\/p>\n<p>Interestingly, despite the squeeze, trader sentiment remains high, as evidenced by Bitcoin&#8217;s Open Interest reaching an all-time high (ATH).<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"alignnone wp-image-356447 size-large aligncenter\" src=\"https:\/\/www.bitrabo.com\/discover\/wp-content\/uploads\/2024\/12\/1734676445_623_Crypto-Liquidations-Near-800-Million-After-Bitcoins-Crash-Under-100000.png\" alt=\"Bitcoin Open Interest\" width=\"980\" height=\"349\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Recent data indicates a significant number of liquidations occurred on cryptocurrency exchanges within the last day, following a downturn in both Bitcoin and altcoin prices. Bitcoin and Altcoins Experience Significant Downturns The cryptocurrency market faced considerable volatility yesterday, triggered by the US Federal Reserve&#8217;s cautious stance on interest rate cuts during the recent Federal Open [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":25044,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Bitcoin Plummets Below $100K: Crypto Liquidations Surge Close to $800 Million - Bitrabo","description":"Recent data indicates a significant number of liquidations occurred on cryptocurrency exchanges within the last day, following a downturn in both Bitcoin and al"},"footnotes":""},"categories":[316],"tags":[1400,979,504,2126,561],"class_list":["post-25043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bitcoins","tag-crash","tag-crypto","tag-liquidations","tag-million"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/25043","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=25043"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/25043\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/25044"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=25043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=25043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=25043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}