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Bitcoin falls below $100K as whale loses $100M

Bitcoin falls below $100K as whale loses $100M

GrafaGrafa2025/01/27 09:00
By:Liezl Gambe

Bitcoin's (CRYPTO:BTC) price has recently dropped below the $100,000 mark, hitting a weekly low of approximately $99,700.

This decline follows a period of relative stability where Bitcoin hovered around $105,000 over the weekend.

The drop represents a 5% decrease in value and has impacted the overall cryptocurrency market, which has seen significant losses across various altcoins.

Major cryptocurrencies such as Ethereum (CRYPTO:ETH), XRP (CRYPTO:XRP), and Cardano (CRYPTO:ADA) have experienced notable declines, with ETH falling to around $3,100 from nearly $3,400 just days prior.

The total market capitalisation for Bitcoin has now dipped below $2 trillion, reflecting the broader bearish trend in the market.

Data from CoinGlass indicates that the volatility has resulted in over $600 million in liquidations across the crypto market in just one day.

Approximately 228,000 traders have been affected by these liquidations, with one whale suffering a staggering loss of nearly $98.46 million on the BTC/USDT pair.

This situation underscores the heightened volatility and risk present in the cryptocurrency space.

The recent downturn has raised concerns among investors, particularly as Bitcoin's price fell below critical support levels.

Analysts are closely monitoring market conditions to assess whether this is a temporary correction or indicative of a more prolonged downtrend.

Despite the current challenges, some experts maintain a positive outlook for Bitcoin's long-term prospects, suggesting that institutional adoption and macroeconomic factors could support future price recovery.

As traders navigate this turbulent landscape, it remains essential to watch key support levels and market sentiment to make informed trading decisions.

At the time of reporting, the Bitcoin (BTC) price was $99,691.79.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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