đBitcoin's Nosedive to Under $100K Shaves $700M Crypto Longs, XRP Drops 5%
Bitcoin experienced a significant drop, falling below $100,000, which triggered over $700 million in liquidations across crypto futures, particularly affecting long positions. This downturn was influenced by comments from Federal Reserve Chair Jerome Powell regarding interest rate cuts and the implications of President-elect Donald Trump's potential Bitcoin policies.
Other cryptocurrencies like XRP and Dogecoin also saw declines of around 5.5%. The market reaction suggests a possible peak, as traders reassess expectations of a continued rally, while some analysts remain optimistic about the long-term outlook for crypto in 2025.
