Bitcoin price tumbles below $96,000, triggering massive long liquidation
Cryptomarket in the red
The decline of Bitcoin below $96,000 has led to significant liquidations of long positions.
According to Coinglass, as of the time of writing, Bitcoin liquidations alone exceeded $41 million in the past hour.
BTC/USD price dynamics for November 25, 2024
The total liquidations over the past hour amounted to $113 million, with $95 million attributed to long positions.
Alongside Bitcoin, the rest of the top ten cryptocurrencies also traded at a loss on November 25. Over a four-hour period, total liquidations reached more than $180 million, with $153 million being long positions.
During this timeframe, Bitcoin's liquidations ($51 million) were accompanied by ETH ($25 million), SOL ($9.3 million), and DOGE (nearly $9 million).
As we wrote, heightened volatility in the cryptocurrency market led to trader losses exceeding $467 million in the past 24 hours.
While much attention remained on Bitcoin, which still hasn’t surpassed the psychological $100,000 mark, many altcoins experienced double-digit growth and sharp fluctuations, resulting in the liquidation of both long and short positions throughout the day.
