Bitcoin's drop below $100,000 leads to $870 million in liquidations, highlighting price volatility.

From Investing.com

December 6, 2024 07:30 AM:

Major liquidations totaling $873.53 million hit the cryptocurrency market after Bitcoin’s drop below $100,000. $489.41 million was attributed to Bitcoin alone, showcasing its price volatility. Other assets like Ethereum, XRP, and Litecoin also saw significant losses. Binance and OKX were among the most impacted platforms. Long positions accounted for 57% of the liquidations, indicating overly optimistic bets. Bitcoin is struggling to regain stability above $100,000, highlighting the risks of excessive leverage in a volatile market. Traders should remain cautious as the market responds to this event.

Read more at Investing.com: $870 Million Liquidated as Bitcoin Loses $100,000: What’s Up? By U.Today