Bitcoin and crypto asset prices are reeling to start the week, alongside a broader equity market pullback.
In the last 24 hours, $2.02 billion in leveraged crypto bets have been liquidated, according to the market data tracker CoinGlass.
The liquidations happened as BTC tumbled below $100,000 for the first time since June, dropping to a low of about $99,075.
That marks a 21.3% decline from BTC’s all-time high of $126,000 on October 6th, driven by whale profit-taking.
At time of publishing, Bitcoin is priced at $101,033, down 4.3% in the last 24 hours.
The vast majority of today’s liquidations hit traders going long, with total Ethereum liquidations leading the way at $655 million liquidated, followed by $615 million in Bitcoin liquidated and $123 million in Solana liquidated.
Today’s crypto market drop aligns with stock market woes, as investors question whether AI-related stock valuations are overblown.
The S&P 500 fell 1.17% to 6,771, the Nasdaq dropped 2.04% to 23,348, and the Dow slid 0.53% to 47,085.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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