Why Bitcoin is Dropping? Market Volatility Triggers $500M in Liquidations
The post Why Bitcoin is Dropping? Market Volatility Triggers $500M in Liquidations appeared first on Coinpedia Fintech News
This bull season, Bitcoin has seen one of the biggest price pumps in its history as it traded to almost $100,000. Looking ahead, analysts believe that Bitcoin could see substantial growth in 2025, driven by a mix of macroeconomic conditions, institutional participation and seasonal market behavior.
Why Is Bitcoin Retracing?However, as of writing, Bitcoin’s price has dropped to $96,355, which does not look promising. However, it is not surprising to witness minor corrections even during attempts to reach all-time highs.
After several days of charting new peaks and coming less than $200 away from $100,000, bitcoin’s price has halted and dropped from its Friday high. At first, it dropped to $98,000 on Sunday, but the bears kept the pressure on and bitcoin fell even further to under $96,000. Its market cap has slipped below $1.9 trillion after losing over $60 billion since Friday.
Liquidations Near $500M!The market volatility has harmed over-leveraged traders, with nearly 200,000 such market participants wrecked in the past 24 hours. The total value of liquidated positions is up to almost $500 million, with the major share belonging to longs, with $383 million.
Titan of Crypto provided the following insights on the situation-
#Bitcoin Short-Term Update 