The post Bitcoin’s sudden dip under $95k incurs $180 million in trader losses, stalls $100k momentum appeared on BitcoinEthereumNews.com.

Bitcoin’s price sharply declined nearly 2% on the 1-hour chart, falling below $95,000, deviating from its recent upward momentum toward the $100,000 milestone. Data from CryptoSlate shows that Bitcoin reached a low of $94,824 before recovering to $96,007 at the time of writing. This brief dip occurred just four days after the top crypto surpassed the $95,000 mark for the first time on Nov. 21. Bitcoin 24-Hour Price Chart (Source: Tradingview) Following the decline, the likelihood of Bitcoin hitting $100,000 before December dropped significantly to 45% from 88%, according to predictions from the Kalshi marketplace. Bitcoin Probability of Hitting $100,000 Before December (Source: Kalshi) Meanwhile, the downturn in Bitcoin’s price reflected broader market trends. Major cryptocurrencies such as Solana, Ethereum, and BNB also experienced declines of approximately 2% in the same time frame. The drop triggered significant losses for crypto traders. Coinglass data revealed that Bitcoin’s dip alone led to $40 million in losses for traders holding BTC positions. When losses in other assets are accounted for, the total industry-wide losses rise to over $120 million in the past hour and $180 million in the last four hours. Crypto Market Liquidation (Source: Coinglass) Over the past 24 hours, the volatility impacted 152,274 traders, resulting in $436.4 million in liquidations. The post Bitcoin’s sudden dip under $95k incurs $180 million in trader losses, stalls $100k momentum appeared first on CryptoSlate. Source: https://cryptoslate.com/insights/bitcoins-sudden-dip-under-95k-incurs-180-million-in-trader-losses-stalls-100k-momentum/

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Filed under: News - @ November 25, 2024 4:24 pm