Bitcoin drops nearly $3,000 as over $70M in longs liquidated in past 4 hours
Crypto Briefing
Bitcoin plunged almost $3,000 during the post-Christmas US session, causing over $70 million in leveraged long liquidations.Summary
Bitcoin experienced a sudden drop of nearly $3,000 during the first US trading session after Christmas, highlighting the inherent volatility of crypto markets. This sharp pullback triggered the forced liquidation of over $70 million in leveraged long positions across various derivatives platforms within a four-hour period, according to Coinglass data. Such mass liquidation events often exacerbate downward price momentum as automated selling adds further pressure to the declining market. At the time of reporting, Bitcoin was trading around $87,175, marking a roughly 2% decrease over the preceding four hours.
(Source：Crypto Briefing)