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#bitcoin y #Ethereum fluctuate sharply, causing heavy liquidations amid allegations of market manipulation
Bitcoin and Ethereum recorded gains, only to quickly reverse to losses in less than two hours during the early American session.

The movement triggered over 400 million dollars in liquidations of #Criptomonedas during the period.
Traders alleged institutional manipulation, considering that the pattern has occurred repeatedly in December.

The cryptocurrency market experienced strong volatility on Wednesday, as major cryptocurrencies, including bitcoin $BTC and Ethereum $ETH , quickly reversed the gains of the early American session.
In less than two hours, Bitcoin rose from $86,000 to over $90,000, but faced a sharp pullback towards $85,000 almost immediately. ETH recorded a similar move, rising from $2,900 to $3,100 before falling to $2,800 in a few hours.
The sharp and volatile movement caused massive liquidations, wiping out over 400 million dollars in leveraged positions in the global cryptocurrency futures market, according to data from #coinglass . The largest liquidation order is a HYPE/USD position worth approximately 11.08 million dollars on the decentralized perpetual exchange,
Cryptocurrency liquidations during sharp price movements are often underestimated due to API delays/limitations on exchanges and a significant amount of trading activity that occurs off-exchanges.

$ETH led the liquidations, with over 150 million dollars —mostly long positions— wiped from the market. #bitcoin followed with 140 million dollars in liquidations, led by 78 million dollars in short liquidations.
It is not the first time that the cryptocurrency market has seen such a sharp price movement in December.

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