We witnessed a massive liquidity hunt earlier today as BTC price pinned $94,150. The decline we announced at the last minute caused the liquidation of nearly 900 million dollars of positions in just minutes. BTC has made a similar move to $90,500 before, but altcoins have not suffered such large losses.
Cryptocurrency Drop
Long positions worth $1.5 billion in cryptocurrencies were liquidated in the last 24 hours. ETH With the liquidation of $ 250 million, it became the cryptocurrency with the biggest losses beyond BTC. After the price exceeded 4 thousand dollars, the rapid decline to the 3,400 dollar region had a negative impact on those carrying long positions, even if they were not very leveraged.
Bloomberg earlier reported a $2 billion outflow from the IBIT ETF. However, these outputs have not yet been processed on Farside screens. Moreover, since FBTC saw an inflow of $175 million, it seems that it experienced a total net inflow of $85 million on December 9. If IBIT If their outflows are confirmed, this will confirm the tendency for rapid profit-taking in corporates.
Altcoins Latest Status
SOL, DOGE, XRP, BNB, PEPE And ADA Coin It saw quite large liquidations between $59 million and $23.3 million. POPCAT, IOTA, WIF, FLOW, BRETT, SAND and MANA experienced the biggest losses in the last 24 hours. Losses were over 18 percent. The fear and greed index decreased by approximately 10 points to 76 with the last major decline.
According to CMC data, Bitcoin 
$98,523.4 Market dominance climbed to 55.6%, while volumes approached $350 billion and rose more than 100% in the last 24 hours.
Shiba Coin pinned as high as $0.00002424 yesterday and is down 25% on the daily candle. Although it has now returned to $0.000026, the price returned to the levels of late November, causing investors to panic.
At every opportunity, we were talking about how even if we were in bullish markets, such double-digit declines were normal, especially due to the intense interest in futures. Breaking a new all-time record of over $104K BTC After tomorrow’s US inflation and December 18 Fed interest rate decision, it can begin to prepare for Trump’s handover ceremony in January.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
