Bitcoin’s (BTC) historic rally above $100,000 hit a roadblock on Dec. 5 as the flagship crypto fell back into five-figure territory, leaving a trail of liquidations across the market.
BTC has given up nearly all its 24-hour gains, bringing it to an all-time record of $103,679. The price fell as low as $90,300 before trying to recover.
CryptoSlate reported that Bitcoin had traded for $95,500 at the time of this article, amid a period of high volatility.
Liquidations
In the last 24 hours, 202 956 traders around the world have been affected by a liquidation of $885.61 Million in leveraged positions. Bitcoin accounted to $540 millions of the liquidations. Ethereum with $105.53 was next.
Other altcoins have also seen significant liquidations. These include XRP, with $57.07 millions, DOGE, with $37.54million, and Solana, with $29.28million. A combined $92 million was liquidated across other cryptocurrencies, highlighting the broad impact of Bitcoin’s price movement.
Long traders, who bet on rising prices, bore the brunt of the impact, with $640.83 million in liquidated positions — 72.4% of the total.
The short positions that bet against price drops amounted to $244.78 millions. A BTC-USDT Swap worth $18,63 million was closed forcibly on OKX.
High Volatility
In further analysis, we can see that $284.43 in liquidation was made within an hour. Of this, $279.50 millions were longs. In the 12 hour period, there were $552.54 in liquidations, which included $482.81 millions in longs as well as $69.72 millions in shorts.
The four-hour liquidation figure stood at $428.42 million, reflecting heightened volatility during Bitcoin’s decline.
Editor’s Note: The liquidation numbers may not be fully accurate due to extremely high volatility at the time the article was published.
Bitcoin Market Data
The time of the press The time on December 5, 2024 is 10:44 pm UTCBitcoin has the largest market cap in terms of price and is currently ranked number one. Downward 2.22% Over the last 24 hours. Bitcoin’s market capitalization is 1 Trillion Dollars The 24-hour volume trading is 146.19 billion. Learn more about Bitcoin ›
Bitcoin
The time on December 5, 2024 is 10:44 pm UTC
$96,386.66
-2.22% Crypto Market Analysis
The time of the press The time on December 5, 2024 is 10:44 pm UTCThe crypto market has a total value of at 3.52 trillion dollars A 24-hour volume is 360.25 Billion Dollars. Bitcoin dominates the market at 54.14%. Learn more about the crypto market ›
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