This week’s markets pain is only getting worse Wednesday, with major assets like Bitcoin and Ethereum falling to their lowest marks in months as liquidations top $600 million over the last 24 hours.
Bitcoin dipped as low as $83,724 and remains under the $84,000 mark as of this writing, down more than 3% on the day and 12% over the past week.
The price of Bitcoin hasn’t been that low since early November, just days after President Trump’s election win, as the top cryptocurrency was rising to new peaks. At its current price, Bitcoin is now down 23% from its peak price above $108,000 set just over a month ago.
But Ethereum has been hit harder, falling more than 4% on the day and dipping to $2,275—the lowest price for the second-largest crypto asset since last September. Ethereum remains down 53% from its own all-time high price of $4,878 set back in 2021.
Broadly, the crypto market is down about 4% over the last day, falling again after a brutal start to the week fueled by inflation fears, concerns over Trump’s expanding tariffs, cooling momentum around meme coin trading, and last week’s $1.4 billion hack of crypto exchange Bybit.
More than $613 million worth of futures bets have been liquidated over the last 24 hours, per data from CoinGlass, with Bitcoin leading the charge at $335 million worth. Ethereum is second with $115 million worth of liquidations.
Editor’s note: This story is breaking and will be updated with additional details.
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Source: https://decrypt.co/307891/bitcoin-ethereum-fall-liquidations-top-600-million
