The price of Bitcoin continued plunging Tuesday, falling below the $100,000 mark for the first time in six months. Other top coins are falling even harder alongside Bitcoin, driving $1.3 billion in liquidations over the past day.
Bitcoin touched as low as $99,954 on crypto exchange Coinbase and $99,990 per price tracker CoinMarketCap before slightly rebounding.
It recently traded at a price of $100,906, down nearly 6% on the day. The top cryptocurrency has fallen by 12% over the past week and 18% over the past month, diving after setting a new all-time high above $126,000 in early October.
The last time Bitcoin dropped below six figures was in early May.
Just 24 hours ago, when Bitcoin was priced around $107,000, Myriad users were mixed on whether Bitcoin was set to rise to a price of $120,000 or fall to $100,000. At the time, users predicted a roughly 44% chance of BTC rising to $120,000, though those odds crumbled in recent hours as Bitcoin fell.
Ethereum and other alts are falling harder alongside Bitcoin’s dive, with ETH showing a nearly 10% daily dive to below the $3,300 mark, with XRP falling 7.5% to $2.17, Solana dropping 8% to $154, and Dogecoin down about 7% to $0.157.
Some $1.3 billion worth of positions have been liquidated over the past 24 hours from CoinGlass, outpacing the $1.1 billion tally seen Monday morning after previous losses. Over $1.1 billion of those came from long positions, or bets that the price of an asset will rise.
Bitcoin leads the liquidation pile with $470 million worth, followed by Ethereum at about $377 million.
Crypto has been flying high for most of the year, with Bitcoin repeatedly setting new high marks — most recently on October 6 — and coins like Ethereum and XRP breaking multi-year records of their own in recent months.
But it’s been a bumpy few weeks, with a record-setting day of $19 billion worth of crypto liquidations last month following President Trump’s latest round of tariff threats against China — one of the macro factors impacting Bitcoin’s performance.
Bitcoin has also tumbled amid the ongoing government shutdown — the longest full closure in history — along with liquidity concerns and dwindling prospects of a third U.S. interest rate cut before year’s end.
