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Bitcoin's price fell below $100,000 for the third time this month, hitting $98,841.86. Total liquidations in the crypto market reached $463 million, with long positions accounting for $342 million. Analysts point to rising production costs and macroeconomic factors as influencing price pressures.
Bitcoin is trading around $92,800, showing slight gains as the crypto market cap remains stable at $3.2 trillion. Ethereum is performing better, with a 3.4% increase, while overall market sentiment remains cautious, with over 25% of Bitcoin supply underwater. Liquidations are down but still significant, particularly for ETH and BTC.
Ethereum's ETH token has dropped below $3,300, wiping out its gains for the year, while Bitcoin hovers near the $100,000 mark. Both cryptocurrencies are experiencing losses amid a broader market pullback, with significant liquidations occurring as traders lose confidence.
Following U.S. military strikes on Iranian nuclear sites, the crypto market experienced over $1 billion in liquidations, with Bitcoin's price falling below $100,000 for the first time in 45 days. The majority of liquidations affected long positions, while altcoins saw the steepest declines amidst growing concerns over potential disruptions in global oil trade.
Over 1.5 million crypto traders faced liquidation as nearly $10 billion in open interest was erased following President Trump's announcement of 100% tariffs on Chinese imports. Bitcoin and Ethereum saw the largest losses, with significant drops in their market prices, while one trader reportedly profited $190 million from short positions during the turmoil.
Over the past 24 hours, the cryptocurrency market experienced $1.7 billion in liquidations, primarily driven by a significant drop in Bitcoin and Ether prices. Approximately $1.62 billion of the liquidations were from long positions, indicating a turbulent trading environment as over 404,000 traders faced forced closures of their positions. Analysts suggest that the prevailing market conditions may indicate the end of the recent bull cycle.