Bitcoin recently experienced a downturn after failing to break the $100,000 mark, leading to massive liquidations in the crypto market! 📉 In the past 24 hours, around $470 million worth of crypto positions were liquidated, with the majority coming from altcoins. 💸
Of the total liquidations, $352.6 million came from long positions and $119.9 million from short positions. 🔄 Bitcoin (BTC) and Ether (ETH) accounted for around $108.9 million of the liquidations, while Dogecoin (DOGE), XRP, and Stellar (XLM) also got involved. 🐶💥
Some previously unexpected altcoins performed exceptionally well, with XLM even surging by 50%! 🚀 DOGE also hit its highest level since May 2021, harkening back to when the memecoin skyrocketed to its peak. 🌕
Industry analyst Miles Deutscher believes that many traders from the previous cycle are reopening their crypto wallets and reinvesting in tokens they are familiar with. 🔑 Meanwhile, Bitcoin is currently trading around $97,790, down 2% from its all-time high. 📊
Bitcoin has surged nearly 44% since November 5, when Donald Trump won the US presidential election. 🇺🇸 Bitcoin’s dominance of the crypto market now stands at 56.2%, with a total market cap of $3.46 trillion. 💰
Let’s see what happens next in the crypto world! 🌍
#CryptoExplorerFiesta #BTC #bitcoin #Dogecoin #memecoin🚀🚀🚀