Bitcoin down as TradingView error sparks volatility
Bitcoin pulled back on Thursday as markets seemingly responded to inaccurate chart data from TradingView.
The cryptocurrency dipped toward $95,000 after social media users flagged an anomaly on TradingView’s Bitcoin dominance chart, which incorrectly showed Bitcoin’s share of the total crypto market cap dropping to 0%.
Although the error has been corrected, it reportedly triggered sudden trading reactions that pushed BTC/USD lower.
According to CoinGlass data, roughly $33 million in Bitcoin long positions were liquidated within four hours.
Bitcoin’s market dominance has become a key focus for traders recently, as Bitcoin’s climb to new all-time highs has left altcoins lagging.
Dominance briefly exceeded 61.5% in mid-November before pulling back, raising expectations for a potential “altseason.”
Bitcoin rose nearly 5% in the previous two sessions but failed to continue the positive momentum on Thursday as investors were cautious about the outlook for speculative assets like cryptocurrencies after the Fed indicated fewer interest rate cuts in 2025.
Last week, Bitcoin recorded its first weekly fall since Trump’s election win in early November after the Fed meeting stalled the post-election rally.
The rally had pushed prices to an all-time high of $108,244.9, after which prices fell due to profit-taking amid macroeconomic pressures induced by the Fed rate outlook.
The central bank lowered rates by 25 basis points but indicated only two rate cuts for the upcoming year, compared with previous expectations for four cuts.
This shift led investors to reassess their positions in speculative assets like Bitcoin, contributing to its price decline.
