Total crypto liquidations climb to $1.5 billion after bitcoin dips below $95,000

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The Block2024/12/08 16:00

By:The Block

Quick Take Nearly 514,400 traders experienced liquidations totaling $1.51 billion, among them $1.38 billion were long positions with $136.7 million in short positions liquidated. Bitcoin briefly dipped to $94,900 around 4:00 p.m. ET (21:00 UTC) before rising back to the $97,400 area.

Total crypto liquidations climb to $1.5 billion after bitcoin dips below $95,000 image 0

Crypto liquidations broke past $1.5 billion within the past 24 hours as the price of bitcoin retreated from the $100,000 level.

Nearly 514,400 traders experienced liquidations, among them $1.38 billion were long positions with $136.7 million in short positions liquidated, according to data from the crypto data tracker Coinglass as of 4:43 p.m. ET (21:43 UTC).

Total liquidations for bitcoin and ethereum, respectively, reached $163.4 million and $204.7 million within the past day.

Bitcoin briefly dipped to $94,900 around 4:00 p.m. ET (21:00 UTC) before rising to $97,395 at publication time, The Block's Bitcoin Price Page shows.

Monday's liquidations follow the $1.1 billion in total crypto liquidations on Dec. 5, which had been the largest amount of liquidations since December 2021, due to large holders experiencing "leverage flush."

Bitcoin surpassed $100,000 for the first time ever on Dec. 4 after a weeks-long rally following the election of Donald Trump as the 47th President of the United States and reached an all-time high of $103,679.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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