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Bitcoin loses $100,000 support and market liquidations exceed $390 million
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After break the US$100,000 markthe Bitcoin (BTC) suffered a sharp correction, falling to $97,160 in about 24 hours. The movement comes after a brief period of highs and brought intense volatility to the cryptocurrency market.
At the time of writing, BTC has recovered slightly to $97,911 but is still down more than 4% daily, according to data from CoinGecko.
According to data from CoinGlass, the price drop from the US$100,000 level directly affected traders with leveraged positions, leading to settlements of more than US$390 million within a day, being US$230 million just the last four hours. The biggest sell-off occurred on Binance, with a single trader losing US$12 million.
While Bitcoin records a drop of around 4% on the daythe impact was even more severe for altcoins. THE Ethereum (ETH), for example, it fell 7%trading below the critical support of $3,500. THE XRP and the Solana (SOL) followed the same trajectory, with similar falls, quoted at $2.3 and $208respectively.
Other assets suffered more pronounced losses, with devaluations of up to 11% in Dogecoin (DOGE), SUI, Avalanche (AVAX), Chainlink (LINK), Stellar (XLM), Shiba Inu (SHIB), Polkadot (DOT), Bitcoin Cash (BCH) and Pepe (PEPE).
The correction in the cryptocurrency market appears to have been influenced by stronger than expected economic data in the United States. Reports job openings above forecasts expectations of interest rate cuts by the Federal Reserve (the Central Bank of the USA) in the first half of 2025.
This scenario reduced the appetite for risky assets, impacting both the cryptocurrency and stock markets.
Although volatility has been intensified by external factors, analysts note that the cryptocurrency market remains sensitive to macroeconomic movements and liquidity pressures.
Bitcoin loses $100,000 support and market liquidations exceed $390 million
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Bitcoin loses $100,000 support and market liquidations exceed $390 million
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Bitcoin loses $100,000 support and market liquidations exceed $390 million
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Bitcoin loses $100,000 support and market liquidations exceed $390 million
