Bitcoin Crashes Under $100K for First Time Since May, Liquidations Hit $1.3 Billion

The price of Bitcoin it continued to tumble on Tuesday, falling below the $100,000 mark for the first time in six months. Other leading coins fell even harder alongside Bitcoin, driving $1.3 billion in liquidations over the past day.

Bitcoin touched as much as $99,954 on crypto exchange Coinbase and $99,990 on price tracker CoinMarketCap before rebounding a bit.

Recently he is trading in a price of $100,906down almost 6% on the day. The top cryptocurrency fell 12% over the past week and 18% over the past month, plunging after setting a new all-time high above $126,000 in early October.

The last time Bitcoin fell below six figures was in early May.

Just 24 hours ago, when the price of Bitcoin was around $107,000, Myriad users were mixed on whether Bitcoin was set to rise to a price of $120,000 or fall to $100,000. At the time, users predicted a roughly 44% chance of BTC rising to $120,000, although these odds crumbled in the last few hours while Bitcoin has fallen.

Ethereum and other alts fell harder alongside Bitcoin’s plunge, with ETH showing a nearly 10% daily dive below the $3,300 mark, with XRP down 7.5% to $2.17, Solana down 8% to $154, and Dogecoin down about 7% to $0.157.

Some $1.3 billion of positions were liquidated in the last 24 hours by CoinGlass, surpassing the 1.1 billion dollars account seen on Monday morning after previous losses. More than $1.1 billion of that came from long positions, or bets that an asset’s price will rise.

Bitcoin leads the liquidation pile with $470 million, followed by Ethereum at around $377 million.

Editor’s note: This story is breaking and will be updated with additional details.