This week’s decline in the crypto market is only intensifying as the week progresses. Bitcoin has fallen below 100 thousand dollars, ethereum has dropped to its lowest value in a four-month period, and total daily liquidations have exceeded two billion dollars. Bitcoin fell below the 100 thousand dollar mark on Tuesday for the first time in six months.
Currently trading around 101,500 dollars, this marks a decline of about 2.8 percent in the last 24 hours. Over the past seven days, the most well-known cryptocurrency has weakened by more than 10 percent, while compared to its peak of 126 thousand dollars reached in early October, it has lost nearly 20 percent. Meanwhile, ethereum has dropped from a 24-hour high of 3,649 dollars to as low as 3,097 dollars, the lowest level recorded since July. At a recent price of 3,260 dollars, ethereum fell by more than nine percent yesterday, surpassing all other cryptocurrencies in the top 10 by market capitalization.
Other altcoins such as xrp, solana, and bnb are showing greater daily losses than bitcoin, although none are as poor as ethereum. Overall, approximately 2.02 billion dollars in crypto positions have been liquidated in the last 24 hours, according to CoinGlass data, of which 1.63 billion dollars is related to long positions betting on the asset’s price increase.
