By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
crypto keynote usa black crypto keynote usa black
  • Home
  • Latest News
    Cryptocurrencies retain gains on Christmas: Bitcoin and Ethereum lead global market
 | USA
    BitcoinEthereum

    Cryptocurrencies retain gains on Christmas: Bitcoin and Ethereum lead global market | USA

    Major cryptocurrencies held firm on Christmas Day and retained the gains made…

    By Crypto December 27, 2024
    Meme Cryptocurrencies Lead the Market in 2024: How Did They Achieve Gains of Up to 9,695%?
 | USA
    News
    Meme Cryptocurrencies Lead the Market in 2024: How Did They Achieve Gains of Up to 9,695%? | USA
    Roaring Kitty moves the market: GameStop (GME) and meme cryptos skyrocket after a simple Christmas wish
 | USA
    News
    Roaring Kitty moves the market: GameStop (GME) and meme cryptos skyrocket after a simple Christmas wish | USA
    Bitcoin at ,500: Whales and on-chain data refute the bear market
 | USA
    Bitcoin
    Bitcoin at $95,500: Whales and on-chain data refute the bear market | USA
    Roaring Kitty moves the market: GameStop (GME) and meme cryptos skyrocket after a simple Christmas wish
 | USA
    Bitcoin
    Bitcoin at $95,500: Whales and on-chain data refute the bear market | USA
  • Binance
  • Bitcoin
  • BNB
  • Blockchain
  • Cryptocurrency
  • Ethereum
  • Mining
  • NFT
  • Altcoin
  • Download Now
  • Download Camtasia
Reading: Bitcoin Falls $6,000 in Minutes, But Recovers to $98,000: Liquidations Exceed $1,000 Million | Keynote
Share
Sign In
  • bitcoinBitcoin(BTC)$107,632.00
  • ethereumEthereum(ETH)$2,541.74
  • tetherTether(USDT)$1.00
  • rippleXRP(XRP)$2.26
  • binancecoinBNB(BNB)$656.08
  • solanaSolana(SOL)$156.16
  • usd-coinUSDC(USDC)$1.00
  • dogecoinDogecoin(DOGE)$0.186580
  • tronTRON(TRX)$0.282718
  • cardanoCardano(ADA)$0.68
Crypto NewsCrypto News
Font ResizerAa
  • Home
  • Contact
Search
  • Home
  • Latest News
  • Binance
  • Bitcoin
  • BNB
  • Blockchain
  • Cryptocurrency
  • Ethereum
  • Mining
  • NFT
  • Altcoin
  • Download Now
  • Download Camtasia
Have an existing account? Sign In
Follow US
  • Privacy Policy
  • Terms Of Us
  • Disclaimer
  • Editorial Policy
  • Cookies
  • DMCA
  • Affiliates
  • Contact Us
  • About US
© 2024 Crypto Keynote USA. All Rights Reserved.
Crypto News > Blog > News > Bitcoin > Bitcoin Falls $6,000 in Minutes, But Recovers to $98,000: Liquidations Exceed $1,000 Million | Keynote
Bitcoin

Bitcoin Falls $6,000 in Minutes, But Recovers to $98,000: Liquidations Exceed $1,000 Million | Keynote

Crypto
Last updated: 2024/12/06 at 1:59 AM
Crypto Published December 6, 2024
Share
Bitcoin Falls ,000 in Minutes, But Recovers to ,000: Liquidations Exceed ,000 Million
 | Keynote
- Advertisement -

Bitcoin-sauce-gID_7.png@png” />

Contents
In summaryDaily Debrief NewsletterCrypto Keynote USA

In summary

  • Bitcoin fell 6.3% in minutes to $92,000, causing $1.07 billion in liquidations before recovering to $97,600.
  • High funding rates signaled an over-leveraged market, which amplified liquidations of $390 million in long positions.
  • The price of BTC maintains a 39% monthly increase, driven by Trump’s re-election and his pro-crypto approach.

On Thursday, the price of the world’s largest Cryptocurrency plummeted to its lowest level in more than a week in a matter of minutes, triggering more than $1 billion in liquidations before rebounding sharply.

At 5:26 pm ET, the price of Bitcoin plunged 6.3% to a three-minute low of $92,000. It then quickly recovered above $97,600 before falling another 1%, according to data from Coinbase.

Despite falling 1.7% on the day to $97,100, the asset is still up more than 39% over the past 30 days, fueled by bullish enthusiasm surrounding President-elect Donald Trump.

- Advertisement -

More Read

Cryptocurrencies retain gains on Christmas: Bitcoin and Ethereum lead global market
 | USA

Cryptocurrencies retain gains on Christmas: Bitcoin and Ethereum lead global market | USA

Bitcoin at ,500: Whales and on-chain data refute the bear market
 | USA

Bitcoin at $95,500: Whales and on-chain data refute the bear market | USA

Roaring Kitty moves the market: GameStop (GME) and meme cryptos skyrocket after a simple Christmas wish
 | USA

Bitcoin at $95,500: Whales and on-chain data refute the bear market | USA

The move sparked more than $1.07 billion in liquidations across the market, with about 80%—or $817 million—coming from positions betting on higher prices, CoinGlass data shows.

Liquidations of long Bitcoin positions, meanwhile, have skyrocketed to more than $390 million in the past four hours.

According to Pratik Kala, portfolio manager at Apollo Crypto, the drop was expected as funding rates had risen sharply, signaling an overheated market.

“Many people opened long positions at the breakout of $100,000 with leverage and were liquidated,” Kala told Decrypt.

Funding fees are payments between traders who hold long and short positions in perpetual futures contracts.

These payments help keep the contract price in line with the price of the underlying asset.

When funding rates are high, it indicates that more traders are betting heavily on one side—typically long.

- Advertisement -

With Thursday’s move, high funding rates signaled that many traders were overleveraged in the belief that prices would continue to rise. When the market moved against them, forced liquidations caused a sharp drop in prices.

Previously, analysts told Decrypt that market participants should be on the lookout for “profit taking” along the way, encouraging them to remember that assets rarely go up in a straight line “forever.”

This follows a surprise Bitcoin jump above the coveted $100,000 level on Wednesday night, with the asset rising to all-time highs above $103,000.

The recent rise in prices of Bitcoin and other cryptocurrencies has been widely linked to Trump’s re-election, fueled by his pro-crypto campaign and promises focused on the industry.

On Thursday, Trump took credit for Bitcoin surpassing the $100,000 milestone, which closely followed his selection for the next Chairman of the US Securities and Exchange Commission (SEC).

Trump has tapped Paul Atkins, a former SEC commissioner, to lead the regulatory agency starting next year. Atkins is seen as a friendlier ally to the crypto industry than the current President, Gary Gensler.

Editor’s Note: Adds Kala’s comments on funding rates.

- Advertisement -

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.

Crypto Keynote USA

For the Latest Crypto News, Follow ©KeynoteUSA on Twitter Or Google News.

- Advertisement -

Advice to the Reader

Disclaimer: Please note that the information provided on this page is for News purposes only and should not be considered investment or trading advice. ©Crypto.keynoteusa.com strongly recommends that you conduct independent research and/or consult with a qualified professional before making any investment decisions.
Share This Article
Facebook Twitter Email Copy Link Print
By Crypto
Follow:
An Associate Keynote USA News Editor covering the latest news in search and social media for Search Engine Journal. We are exceptionally happy for you since you are passing with us your significant time.
Previous Article Chile rejects the integration of Bitcoin into its strategic reserves
 – Crypto Chile rejects the integration of Bitcoin into its strategic reserves – Crypto
Next Article Bitcoin Falls Below 0,000 as Historic Rally Cools
 | Keynote Bitcoin Falls Below $100,000 as Historic Rally Cools | Keynote
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

- Advertisement -
Popular News
Cryptocurrencies retain gains on Christmas: Bitcoin and Ethereum lead global market
 | USA
Cryptocurrencies retain gains on Christmas: Bitcoin and Ethereum lead global market | USA
Meme Cryptocurrencies Lead the Market in 2024: How Did They Achieve Gains of Up to 9,695%?
 | USA
Meme Cryptocurrencies Lead the Market in 2024: How Did They Achieve Gains of Up to 9,695%? | USA
Roaring Kitty moves the market: GameStop (GME) and meme cryptos skyrocket after a simple Christmas wish
 | USA
Roaring Kitty moves the market: GameStop (GME) and meme cryptos skyrocket after a simple Christmas wish | USA

Recent Posts

  • Cryptocurrencies retain gains on Christmas: Bitcoin and Ethereum lead global market | USA
  • Meme Cryptocurrencies Lead the Market in 2024: How Did They Achieve Gains of Up to 9,695%? | USA
  • Roaring Kitty moves the market: GameStop (GME) and meme cryptos skyrocket after a simple Christmas wish | USA
  • Bitcoin at $95,500: Whales and on-chain data refute the bear market | USA
  • Bitcoin at $95,500: Whales and on-chain data refute the bear market | USA

Recent Comments

No comments to show.
- Advertisement -

We inform crypto interested users of the latest crypto currency market trending news, like BTC, ETH, BNB coin, ADA Coin, Altcoin, Blockchain, Crypto Mining, NFT, Crypto digital coin pricr, and other digital currency news and updates. if you have any questions, you can contact us.

crypto keynote usa banner 1

Crypto News

  • Binance
  • Bitcoin
  • BNB Coin
  • Blockchain
  • Ethereum
  • Cryptocurrency
  • Mining
  • NFT
  • Altcoin

Useful Link

  • My Bookmarks
  • Customize Interests
  • Contact Us
  • About US
Crypto NewsCrypto News
Follow US
© 2024 Crypto Keynote USA. All Rights Reserved.
  • Privacy Policy
  • Terms Of Us
  • Disclaimer
  • Editorial Policy
  • Cookies
  • DMCA
  • Affiliates
  • Contact Us
  • About US
Welcome Back!

Sign in to your account

Lost your password?