The price of Bitcoin (BTC) is approaching a significant psychological barrier, nearing the $100,000 mark for the first time since June 23, 2025. This development signals a notable shift in the cryptocurrency market.
At the time of reporting, the world's largest cryptocurrency is trading at $101,247, reflecting a decline of approximately 5.24% over the preceding 24 hours. This price movement has led to a reduction in Bitcoin's market capitalization to $2.01 trillion. Concurrently, its 24-hour trading volume has surged, surpassing $84.77 billion, indicating heightened trading activity amidst the price drop.
The broader cryptocurrency market is also experiencing significant selling pressure, with the overall market capitalization decreasing by 4.52% to $3.39 trillion. Several major altcoins have seen substantial declines:
- •Ethereum (ETH) is down 6.88% to $3,382.
- •XRP is trading at $2.21, a decrease of 6.61%.
- •BNB has fallen 7.87% to $920.
- •Solana (SOL) is down 7.95% to $155.
- •Dogecoin (DOGE) is trading at $0.158, down 6.61%.
Market Liquidations Surge
The current market downturn has resulted in substantial liquidations of futures positions. In the last 24 hours, approximately $1.02 billion worth of futures positions have been liquidated. This figure is comprised of $838 million from long positions and $184 million from short positions. The trend of liquidations has continued even in the last hour, with $246 million worth of positions being liquidated.