Bitcoin briefly broke through the $100,000 mark last night, but then entered a downward trend. Bitcoin prices first plummeted from a high of $100,421 at 11 pm to around $98,000, and briefly dipped to $94,150 at 5 am this morning, a maximum drop of 6.25%.
As of now, the price has rebounded to $97,100, down 2.96% in the last 24 hours.
Ethereum Approaches $3,500
In addition, Ethereum also followed this downward trend, briefly dipping to $3,509, and has since rebounded to $3,709, down 7.4% in the last 24 hours.
Nearly $1.7 Billion in Liquidations in the Last 24 Hours
On the other hand, according to data from Coinglass, over the past 24 hours, the total amount of cryptocurrency liquidations across the network reached $1.08 billion, with long positions accounting for $1.55 billion, and short positions accounting for $163 million, liquidating over 567,000 people.
This $1.7 billion in liquidations is the second highest in the history of the cryptocurrency market, second only to September 7, 2021.
