After teasing above $100k for the first time for the between part of Thursday, Bitcoin price dropped around 10 percent to almost retest the support level above $92k. The flagship coin traded around $97,680 on Friday, December 6, during the early Asian session, signaling yesterday’s breakout above $100,000 as a fakeout.
Following the sudden Bitcoin selloff in the past 24 hours, more than $900 million was rekt from the entire crypto market, mostly involving long traders. Bitcoin pairs were the most affected with about $498 million, out of which $421 million were long traders.