Bitcoin Briefly Dips Below $100,000 – More Than $860 Million Were Liquidated

After starting this week with a major surge, the cryptocurrency market finally experienced a significant downturn.

On Monday Bitcoin’s price reached a new all-time high (ATH) above $108,000. Despite this strong surge, the crypto market seems to have lost momentum.

Today BTC briefly dropped below $100,000 (marking a 5-day low), but managed to regain some of the losses.

At the time of writing, Bitcoin is trading $100,360 after a 5.15% decline in the past 24 hours with almost $100 billion in trading volume.

The total cryptocurrency market cap dropped 7.23% during this period to $3.42 trillion.

According to data from CoinGlass , positions worth $862.52 million were liquidated – $753.17 million in longs and $110.46 million in shorts).