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From riches to rekt 📉
For the second time since Bitcoin broke the $100K milestone, crypto prices took a sudden dive, with Dogecoin and XRP both down at least 10%.
Andrew Hayward
December 09, 2024
📝 What you need to know
Bitcoin got off to a solid start early Monday, climbing back above the $100,000 price point following an up-and-down few days after first claiming the milestone last week. But it didn’t last for long, and by about 4pm ET, BTC had briefly plunged below $95,000, per CoinGecko, causing bloodshed across the crypto markets.
While Bitcoin has rebounded to about $97,000 as of this writing, major altcoins are seeing bigger percentage dips, with XRP down 13%, Dogecoin dipping 11%, and Solana and Ethereum both shedding about 8% of their respective value.
Liquidations have skyrocketed as a result, with over $800 million worth of positions—nearly all longs—rekt in a single hour, per data from CoinGlass, pushing the 24-hour tally above $1.5 billion across all crypto assets.
💬 Quote of the Day
“Caroline Crenshaw was a failure as an SEC Commissioner and should be voted out.”
