$BTC Drops Below $101K as $700M in Liquidations Hit Crypto Market

BTC is trading at $101,645, down 2.79% in the past 24 hours, with ETH following at $2,432 (-2.9%). The drop comes amid a wave of liquidations in the derivatives market totaling $699.71M — with $484.85M from longs and $214.86M from shorts.

BTC traders were hit hardest, losing $80M, followed by ETH at $45.49M. Other tokens added $31.53M to the total. The biggest liquidation? A $11M BTC/USD position on Bybit.

BTC saw a sharp drop from $105,706 to $100,764, with heavy sell pressure visible on the 1H chart. The pullback highlights strong resistance around $105K after a brief period of stability

@BinanceResearch @Binance Customer Support @Binance Labs #Write2Earn