On Thursday, bitcoin dipped to $100,426, shedding nearly 4% of its value in a single day.
Bitcoin Craters to $100K as $837M in Crypto Positions Vanish
This article was published more than a year ago. Some information may no longer be current.
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Bitcoin (BTC) spent the day under pressure, sliding from just above $104,000 to about $100,500 per coin. While it hasn’t slipped beneath the six-figure line, the cryptocurrency has now held above $100K for 29 consecutive days—a record-setting stretch for the world’s most prominent digital asset. The decline sent altcoins tumbling as well, with many logging steep double-digit losses. According to coinglass.com, more than $100 million in BTC long positions were liquidated during the hour bitcoin hit the intraday low of $100,426. Altogether, roughly $837.15 million in leveraged bets—both long and short—were wiped out across the crypto market, with longs accounting for $770 million of the damage.
By 5:15 p.m. Eastern time, BTC is holding around the $100,739 range, for now.
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WRITTEN BYBitcoin.com News DeskEditorial Desk Reporter
The Bitcoin.com News Desk publishes timely reporting on market developments, protocol updates, regulatory changes, and industry announcements across the cryptocurrency sector.
