2024-11-26 19:00 |
Bitcoin’s price sharply declined nearly 2% on the 1-hour chart, falling below $95,000, deviating from its recent upward momentum toward the $100,000 milestone.
Data from CryptoSlate shows that Bitcoin reached a low of $94,824 before recovering to $96,007 at the time of writing. This brief dip occurred just four days after the top crypto surpassed the $95,000 mark for the first time on Nov. 21.
Bitcoin 24-Hour Price Chart (Source: Tradingview)Following the decline, the likelihood of Bitcoin hitting $100,000 before December dropped significantly to 45% from 88%, according to predictions from the Kalshi marketplace.
Bitcoin Probability of Hitting $100,000 Before December (Source: Kalshi)Meanwhile, the downturn in Bitcoin’s price reflected broader market trends. Major cryptocurrencies such as Solana, Ethereum, and BNB also experienced declines of approximately 2% in the same time frame.
The drop triggered significant losses for crypto traders. Coinglass data revealed that Bitcoin’s dip alone led to $40 million in losses for traders holding BTC positions. When losses in other assets are accounted for, the total industry-wide losses rise to over $120 million in the past hour and $180 million in the last four hours.
Crypto Market Liquidation (Source: Coinglass)Over the past 24 hours, the volatility impacted 152,274 traders, resulting in $436.4 million in liquidations.
The post Bitcoin’s sudden dip under $95k incurs $180 million in trader losses, stalls $100k momentum appeared first on CryptoSlate.
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