Bitcoin Price Drop Causes “Ripple Effect”.

Cryptocurrency Market Plunges, $BTC Bitcoin Loses Record High

Bitcoin has just experienced a sharp 7% drop, down to $97,020, just two days after peaking above $108,000. The $48,000 support level is seen as a key point if BTC continues to correct deeply.

The decline has triggered a wave of sell-offs across the market, shaking investor confidence. Similar situations occurred in 2013, 2017 and 2021, when Bitcoin prices reversed sharply after a period of optimistic growth.

$ETH (Ethereum), $XRP and Dogecoin Under Pressure

Ethereum fell 12% to $3,422, XRP fell 11% to $2.22, while Dogecoin plunged nearly 20% to $0.31. Solana also fell 12% to $191, reflecting widespread investor uncertainty and profit-taking.

Liquidation Pressure Mounts

Data from CoinGlass shows that $1.17 billion was liquidated in the past 24 hours, with $241 million of that being Bitcoin alone. The overall crypto market is down 9%, according to CoinGecko.

Bitcoin is currently trading around $96,790, down 4.40% over the past few days. The coming days will be a key test to determine the next direction of this volatile market.

The information is for reference only, have a nice weekend everyone!