Bitcoin continued to fluctuate narrowly around $105,000 over the past weekend, and reached a high of $106,488 around 5 a.m. this (20th) morning; but then opened a rapid decline, with the lowest point reaching $99,500 around 8:30 a.m., a drop of nearly $7,000 within four hours!

As will officially take office as the 47th President of the United States tonight (20th), whether he will issue an executive order friendly to cryptocurrency regulation, or even mention Bitcoin in his inauguration speech, is closely watched by the market... The earlier decline was likely caused by selling pressure from investors seeking to hedge their risks.

falls below $3200, falls below $240

As Bitcoin plummeted rapidly, , which had quickly returned to $3,400 last night, fell back below $3,200, giving up nearly 80% of its previous gains, while , which had been buoyed by the meme coin, also saw a significant correction, trading at $239.79 at the time of writing, down 5.59% in the last 24 hours.

The hottest meme coin also plunged from around $75 to a low of $30.1. Although it has rebounded to $49 currently, how will this token perform after 's inauguration tonight? There is still a lot of uncertainty, so investors should be cautious about the risks.

Over $1.17 billion in liquidations across the network in the past 24 hours

In the volatile market of Bitcoin, according to data from Coinglass, over the past 24 hours, the total amount of cryptocurrency liquidations across the network exceeded $1.17 billion (with long positions accounting for $907 million), and nearly 400,000 people were liquidated.