Bitcoin’s market pressure intensified today as the leading cryptocurrency briefly fell to $98,244, triggering a wave of rapid liquidations across leveraged positions.
The move pushed BTC below the psychological $100,000 mark, deepening a broader market decline that hit nearly every major asset.
The pullback marks one of Bitcoin’s sharpest intraday moves of the week, with prices sliding over 3 percent in 24 hours. Ethereum mirrored the downtrend, falling to $3,201, while Solana slipped more than 5 percent to $145.
Across the board, red dominated market screens as traders unwound risk and leveraged longs continued to get squeezed.
According to real-time liquidation data, the last 1 hour alone saw $220.23 million in total liquidations, with long positions accounting for $216.35 million. Only $3.88 million came from shorts, underscoring that the selloff was driven primarily by long-side capitulation.
The 24-hour liquidation tally rose to $638.86 million, confirming a high-volatility environment where leveraged traders faced increasing stress.
Liquidation heatmaps show Bitcoin leading the wipeout with $245.27 million, followed by Ethereum at $178.72 million. Solana and other altcoins also saw significant but smaller liquidation waves.
Market cap rankings reflect the pressure:
The correction comes after weeks of sideways trading, suggesting that the tight BTC range between $100,000 and $105,000 has finally broken to the downside, catching leveraged positions off-guard.
With liquidations cooling but still elevated, analysts warn that volatility may continue in the short term. BTC’s ability to reclaim the $100,000 zone will likely determine market sentiment heading into the weekend.
Altcoins remain highly sensitive to BTC’s next move. If Bitcoin stabilizes above $98K, traders may look for relief bounces. If the decline accelerates, another round of flush-outs could follow.
