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.
BTC Drops Below $100K Amid Aggressive Flush-Out
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.
1-Hour Liquidations Hit $220 Million
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.
Broader Market Weakness Deepens
Market cap rankings reflect the pressure:
- Bitcoin: down nearly 3.5% in 24 hours
- Ethereum: down almost 7%
- Solana: down over 5%
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.
What Comes Next?
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.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/bitcoin-plunges-below-100k-over-220m-liquidated-in-just-one-hour/