Over $500 Million Wiped Out From The Market As Bitcoin Price Fluctuates Heavily
Traders get off to a hot start this week with over $500 million worth have has been liquidated Information from the cryptocurrency market over the past 24 hours. This is due to the recent large fluctuations in Bitcoin prices.
Bitcoin price swings lead to $500 million liquidation
coin glass data It shows that as Bitcoin prices fluctuated, more than $500 million was liquidated in the cryptocurrency market in the past 24 hours. Long traders suffered the most losses, losing more than $366 million long position liquidation. Meanwhile, more than $129 million in short positions were liquidated in the past 24 hours.
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Bitcoin prices fell sharply from around $98,000 to $95,500 on Sunday. Bitcoin has since recovered and is back above $98,000 again. Bitcoin’s price has been experiencing such wild swings ever since the flagship cryptocurrency came close to hitting it. $100,000 Milestone November 23rd.
Bitcoin prices have since experienced a sharp correction followed by a sharp rebound, leaving traders struggling to determine the future trajectory of the flagship cryptocurrency and leading to massive liquidations. These pullbacks are due to investors looking to take profits as the flagship cryptocurrency approaches the psychological price level of $100,000.
However, some whales remain undeterred as they recently $3.96 billion in Bitcoin purchased Within 96 hours. It is worth noting that Bitcoin miners marathon numbers 5,771 BTC ($572 million) were purchased at an average price of 95,554 per BTC.
Although this Bitcoin price range may be the top here, the flagship cryptocurrency is still poised to move higher, which explains why these whales are still actively accumulating more Bitcoin. Asset manager Van Eyck recently stated $100,000 is just the beginning, with predictions that Bitcoin could still reach highs of $180,000.
Today could be the day
cryptocurrency analyst Ali Martinez Recent predictions suggest that the Bitcoin price may finally reach the much-anticipated $100,000 milestone today. At the same time, he revealed that the Supertrend indicator on Bitcoin’s hourly chart has turned bullish as the price broke above the resistance trend line. Relative Strength Index (RSI).
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In another X post, Martinez said $100,000 would not be a cycle top for Bitcoin prices This bull market. He said long-term Bitcoin holders are showing signs of growing greed. The analyst claimed that historically, this suggests that it could take 8-11 months for Bitcoin to reach a market top.
If this historical trend continues, Bitcoin prices may peak between June and September 2025. Cryptocurrency Analysts Like French capital It is also predicted that this period could mark Bitcoin’s peak in this bull run.
According to statistics, as of this writing, the price of Bitcoin has risen to around $98,300 in the past 24 hours. data From CoinMarketCap.
Featured image created using Dall.E, chart from Tradingview.com
