BTC Plummets to Weekly Low
Following a relatively quiet weekend in which Bitcoin hovered around $105,000, the cryptocurrency took a sharp downturn, falling to a weekly low below $100,000.
The broader crypto market also suffered, with major altcoins such as DOGE, XRP, ADA, and SOL experiencing significant losses.
Bitcoin’s 5% Drop Shakes the Market
Similar to last Monday, the start of this week has been rough for crypto investors. After holding steady at $105,000 for over 36 hours, Bitcoin nosedived during the Asian trading session, hitting a low of $99,700. This 5% decline brought Bitcoin’s market capitalization below the critical $2 trillion threshold.
Altcoins Bleed Heavily
While Bitcoin’s drop was steep, altcoins faced even harsher declines:
Ethereum (ETH) fell 7% in a day, dropping to $3,100 after recently challenging $3,400.
XRP sank below $3 for the first time in weeks.
BNB dropped to $650.
Cardano (ADA) plunged to $0.90.
Chainlink (LINK) tumbled to $23.
Other major losers included SOL, DOGE, SUI, PEPE, HBAR, SHIB, LTC, APT, and AAVE, all experiencing double-digit percentage losses.
Over $600M in Liquidations
Data from CoinGlass highlights the brutal volatility, showing that total liquidations have surpassed $600 million in the past 24 hours. Within just 12 hours, $560 million worth of positions were liquidated, affecting nearly 230,000 traders.
The most devastating single liquidation was nearly $98.46 million, occurring on HTX in the BTC/USDT trading pair.
As market turbulence continues, investors remain on edge, watching closely to see whether Bitcoin can reclaim its previous levels or if fu
rther declines are on the horizon.
Disclaimer:
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Cryptocurrency markets are highly volatile, and investing in digital assets carries significant risk. Always conduct your own research and consult with a qualified financial professional before making any investment decisions. The author and publisher are not responsible for any financial losses incurred from reliance on this content.
