Crypto liquidations cross $500 million in past day as bitcoin's price falls to $96,000

Crypto liquidations crossed half a billion dollars over the past 24 hours as bitcoin pulls away from $100,000.

Total cryptocurrency liquidations reached $500.45 million across 197,551 traders, according to the crypto liquidations tracker Coinglass as of 2:30 p.m. ET (19:30 UTC) on Nov. 24. Long and short liquidations comprised roughly $380 million and $120 million respectively.

Bitcoin comprised $70.4 million of the total crypto liquidations in the past day, followed by ethereum and dogecoin at $43.4 million and $35.3 million.

Earlier this week, bitcoin reached $99,320 on Nov. 22, threatening to break $100,000 for the first time ever. The token's price steadily rose after Republican Donald Trump won the United States presidential election on Nov. 6, 2024, when its price was about $75,000.

Bitcoin maintains a $96,256 price point as of 2:30 p.m. ET (19:30 UTC) on Nov. 24 after falling 1.4% in the past day, according to The Block's Bitcoin Price Page . Bitcoin brought in $48.9 billion in trading volume in the 24 hours, and maintains a market capitalization of $1.9 trillion.