Bitcoin 'plummeted $6,000 overnight,' barely holding above $93,000, while Ethereum quickly rebounded, with funds flowing into altcoins.

Bitcoin has experienced the most significant drop in nearly three months in the past 12 hours, dipping to a low of $92,601. Despite the volatility, Ethereum has generally risen, suggesting that funds are flowing into competing coins like ETH. (Background: Michael Saylor initiated a vote on BTC breaking $100,000 by the end of the year: over 85% agreed, implying MicroStrategy will increase its holdings.) (Additional context: MicroStrategy bond interpretation: Is MicroStrategy's aggressive accumulation of Bitcoin safe?) Bitcoin continued to decline after approaching $99,000 yesterday evening (25th), hitting a low of $92,601 around 6 AM today (26th), plummeting $6,000 overnight, marking the most significant drop in nearly three months. Before the deadline, there was a rebound, currently reported at $94,106, down 3.22% in the past 24 hours. On the Ethereum side, despite significant fluctuations, the overall rebound has been stronger, even briefly breaking $3,500 last night. Currently reported at $3,446, up 3.64% in the past 24 hours; other recently strong altcoins are also showing signs of resilience. Wintermute analysts earlier indicated that funds are shifting from BTC to ETH. Over the weekend, Ethereum's open contracts surged, while implied volatility also rose, and demand for call options has noticeably increased, indicating that derivatives traders' confidence is strengthening. In the past 24 hours, the total liquidation across the network reached $520 million, with over 160,000 people liquidated. Under the volatile downward trend of Bitcoin, according to Coinglass data, in the past 24 hours, the total amount of liquidations in the cryptocurrency network reached $529 million, with long liquidations at $386 million dominating, and short liquidations at $142 million, affecting over 162,000 people. Related reports: How did MicroStrategy succeed? Bloomberg: Bitcoin holdings surpass IBM, Nike, and other asset reserves, with stock prices increasing 20 times in five years. Bitcoin surged 10%, breaking the new high of $89,000! MicroStrategy added 27,000 BTC, stock prices skyrocketed. Bitcoin broke $79,700, knocking on the door of $80,000! MicroStrategy's BTC paper profit exceeds $10 billion. "Bitcoin 'plummeted $6,000 overnight,' barely holding above $93,000, while Ethereum quickly rebounded, with funds flowing into altcoins." This article was first published on BlockTempo (the most influential blockchain news media).