**Introduction**
Recently, Bitcoin and other major cryptocurrencies have experienced significant fluctuations, bringing considerable shock to the market. Especially in the early hours of today, the price of Bitcoin (BTC) briefly dropped to $94,150, marking a recent low. Ethereum was also not spared, with its price plummeting to $3,509 before recovering. According to data from CoinJie, within the past 24 hours, the liquidation amount in the cryptocurrency market surpassed $1.7 billion, with over 560,000 positions being liquidated.
**Bitcoin Price Fluctuations: From Breaking $100,000 to a Sharp Decline**
Bitcoin has seen substantial volatility recently. Yesterday, it briefly surpassed the $100,000 mark, but quickly began to decline and enter a period of fluctuation. At 11 PM last night, Bitcoin dropped sharply from $100,421 to around $98,000. Then, at 5 AM today, it briefly dipped to $94,150, marking a maximum drop of nearly 6.25%. Currently, the Bitcoin price has slightly rebounded to around $97,100, with the 24-hour decline narrowing to approximately 2.96%.
Although Bitcoin reached a historic high above $100,000, this price range did not hold for long. According to CoinJie data, Bitcoin fell back below $97,000 within just a few hours. Over the past 24 hours, Bitcoin has dropped about 3%, and its current trading price is approximately $96,880.
**Other Major Cryptocurrencies Suffer Large Losses**
In addition to Bitcoin, other major cryptocurrencies also did not escape the market’s extreme volatility. Ethereum (ETH) experienced a significant drop during this adjustment, falling to $3,509 before slightly rebounding to $3,709, with a 24-hour decline of around 7.4%. Additionally, Dogecoin (DOGE) and XRP also saw notable drops, with losses of approximately 8%, especially after DOGE set a three-year high of $0.48 before falling back to $0.428.
Ripple (XRP), after hitting a seven-year high of $2.82, also experienced a major retracement, now priced at $2.38. Despite this, XRP has still gained about 333% over the past 30 days. Over the same period, Dogecoin has risen by 106%, while Bitcoin has increased by 27%.
**Currency**
**Price**
**24H Change**
**24H Trading Volume**
**Market Cap**
**7-Day Price and Volume Trend**
BTC
Bitcoin
$97,044.19
-2.35%
$11.61 Billion
$192.01 Billion
ETH
Ethereum
$3,709.37
-5.84%
$6.43 Billion
$44.64 Billion
XRP
Ripple
$2.17
-12.5%
$2.14 Billion
$12.23 Billion
DOGE
Dogecoin
$0.40
-10.95%
$1.31 Billion
$5.88 Billion
**Liquidation Amount Reaches Record High**
According to Coinglass statistics, the liquidation amount in the cryptocurrency market over the past 24 hours has reached a staggering $1.71 billion, with long-position liquidations accounting for the largest share, about $1.55 billion, while short-position liquidations amounted to $163 million. This liquidation amount has become the second highest in cryptocurrency market history, second only to the record set on September 7, 2021.
During this period of market turmoil, the total liquidation of both long and short positions reached $620 million. As the leader of the market, Bitcoin’s liquidation amounted to approximately $86 million, further exacerbating the market’s uncertainty.
**Conclusion**
Despite the significant volatility in the market, many investors remain optimistic about the long-term prospects of cryptocurrencies. Bitcoin reached a historic high of $103,679 last week, breaking the $100,000 mark and once again attracting significant market attention. Currently, Bitcoin’s price remains relatively high, and although it has experienced a short-term correction, the long-term potential of the cryptocurrency market cannot be ignored.
However, the extreme volatility in the market serves as a reminder to investors to stay vigilant, especially as liquidations continue to occur. Investors should manage risks carefully to avoid substantial losses in such a highly volatile market.
The cryptocurrency market remains volatile, and investors should focus on market trends while implementing effective risk control measures. Although mainstream cryptocurrencies such as Bitcoin and Ethereum have experienced significant adjustments, the long-term potential of cryptocurrency innovation and application remains promising. For those looking to enter this market, it is crucial to maintain rationality and caution.
