Bitcoin and crypto asset prices are reeling to start the week, alongside a broader equity market pullback.
In the last 24 hours, $2.02 billion in leveraged crypto bets have been liquidated, according to the market data tracker CoinGlass.
The liquidations happened as BTC tumbled below $100,000 for the first time since June, dropping to a low of about $99,075.
That marks a 21.3% decline from BTC’s all-time high of $126,000 on October 6th, driven by whale profit-taking.
At time of publishing, Bitcoin is priced at $101,033, down 4.3% in the last 24 hours.
The vast majority of today’s liquidations hit traders going long, with total Ethereum liquidations leading the way at $655 million liquidated, followed by $615 million in Bitcoin liquidated and $123 million in Solana liquidated.
Today’s crypto market drop aligns with stock market woes, as investors question whether AI-related stock valuations are overblown.
The S&P 500 fell 1.17% to 6,771, the Nasdaq dropped 2.04% to 23,348, and the Dow slid 0.53% to 47,085.
