Bitcoin’s (BTC) historic rally above $100,000 hit a roadblock on Dec. 5 as the flagship crypto fell back into five-figure territory, leaving a trail of liquidations across the market.
BTC gave up almost all of the 24-hour gains that took it to a new all-time high of $103,679. It fell to a low of roughly $90,300 for the day before attempting a recovery.
Bitcoin was trading at $95,500 as of press time amid heavy volatility, based on CryptoSlate data.
Liquidations
Roughly $885.61 million in leveraged positions were liquidated in the past 24 hours, impacting 202,956 traders worldwide. Bitcoin accounted for $540 million of the total liquidations, followed by Ethereum (ETH) with $105.53 million.
Other altcoins also experienced substantial liquidations, including XRP with $57.07 million, DOGE with $37.54 million, and Solana with $29.28 million. A combined $92 million was liquidated across other cryptocurrencies, highlighting the broad impact of Bitcoin’s price movement.
Long traders, who bet on rising prices, bore the brunt of the impact, with $640.83 million in liquidated positions — 72.4% of the total.
Short positions, which bet on price declines, accounted for $244.78 million. The largest single liquidation occurred on OKX, where an $18.63 million BTC-USDT swap was forcibly closed.
High volatility
Breaking down the data further, $284.43 million was liquidated in just one hour, of which $279.50 million were longs. Over the last 12 hours, $552.54 million in liquidations were recorded, including $482.81 million in longs and $69.72 million in shorts.
The four-hour liquidation figure stood at $428.42 million, reflecting heightened volatility during Bitcoin’s decline.
Editor’s Note: The liquidation numbers may not be fully accurate due to extremely high volatility at the time the article was published.
Bitcoin Market Data
At the time of press 10:44 pm UTC on Dec. 5, 2024, Bitcoin is ranked #1 by market cap and the price is down 2.22% over the past 24 hours. Bitcoin has a market capitalization of $1.91 trillion with a 24-hour trading volume of $146.19 billion. Learn more about Bitcoin ›
Crypto Market Summary
At the time of press 10:44 pm UTC on Dec. 5, 2024, the total crypto market is valued at at $3.52 trillion with a 24-hour volume of $360.25 billion. Bitcoin dominance is currently at 54.14%. Learn more about the crypto market ›
