Bitcoin’s $100,000 dream slips away as $939 million crypto wipeout pushes traders toward $78,000

Bitcoin hit an intraday low of $79,730 before staging a recovery to hover near $82,000. The downward move came as rising U.S. wholesale inflation worsened a broader cryptocurrency selloff, which resulted in nearly $940 million in liquidations.

These losses deepened as hotter-than-expected inflation reports sparked fears that the Federal Reserve might implement another interest rate hike. Data from CoinGlass indicates that 176,506 traders faced liquidation during the event.

Frequently Asked Questions

What was Bitcoin’s intraday low during the selloff?

Bitcoin dropped to an intraday low of $79,730 before recovering to about $82,000.

How much money was wiped out in cryptocurrency liquidations?

The market downturn triggered nearly $940 million in liquidations.

How many traders were affected by the liquidations?

According to CoinGlass, a total of 176,506 traders were liquidated.

What caused the cryptocurrency selloff?

The selloff was intensified by surging U.S. wholesale inflation data that raised concerns about potential interest rate hikes by the Federal Reserve.

Hot this week

Democrats reportedly seek greater SEC control over crypto after CLARITY Act collapse

House Democrats are reportedly drafting a comprehensive cryptocurrency market structure bill that increases SEC authority, reduces CFTC jurisdiction, and includes stricter government ethics limitations following the CLARITY Act collapse.

The Trading Festival Mexico 2026 Is Just Three Weeks Away

3,000+ attendees, 50+ brands and 60+ speakers are expected...

Ripple-backed Evernorth faces 73.7 million-share selling overhang after brutal stock market debut

Evernorth filed to register 73.7 million shares for potential resale as its stock plunged following its Nasdaq debut. The XRP treasury company's Oct. 30 SEC filing identifies Ripple Labs, Arrington XRP Capital and affiliates of Japan's SBI Holdings among investors whose holdings could eventually enter the public market. The registration comes as Evernorth's shares have……

Bitcoin rockets above $80,000 for first time since Binance hack despite Democrats sweep, but a historical crash looms

Bitcoin surged over 5% from its election-night low, breaking past $80,000 for the first time since the Binance hack despite concerns over a Democratic takeover of Congress stalling Donald Trump's crypto agenda.

NYSE owner takes Trade[XYZ] stake as it plans US Hyperliquid futures

Intercontinental Exchange, the owner of the New York Stock Exchange, has taken a stake in Trade[XYZ] as the partners plan to launch a US perpetual-futures market utilizing Hyperliquid.

Topics

Democrats reportedly seek greater SEC control over crypto after CLARITY Act collapse

House Democrats are reportedly drafting a comprehensive cryptocurrency market structure bill that increases SEC authority, reduces CFTC jurisdiction, and includes stricter government ethics limitations following the CLARITY Act collapse.

The Trading Festival Mexico 2026 Is Just Three Weeks Away

3,000+ attendees, 50+ brands and 60+ speakers are expected...

Ripple-backed Evernorth faces 73.7 million-share selling overhang after brutal stock market debut

Evernorth filed to register 73.7 million shares for potential resale as its stock plunged following its Nasdaq debut. The XRP treasury company's Oct. 30 SEC filing identifies Ripple Labs, Arrington XRP Capital and affiliates of Japan's SBI Holdings among investors whose holdings could eventually enter the public market. The registration comes as Evernorth's shares have……

Bitcoin rockets above $80,000 for first time since Binance hack despite Democrats sweep, but a historical crash looms

Bitcoin surged over 5% from its election-night low, breaking past $80,000 for the first time since the Binance hack despite concerns over a Democratic takeover of Congress stalling Donald Trump's crypto agenda.

NYSE owner takes Trade[XYZ] stake as it plans US Hyperliquid futures

Intercontinental Exchange, the owner of the New York Stock Exchange, has taken a stake in Trade[XYZ] as the partners plan to launch a US perpetual-futures market utilizing Hyperliquid.

Strategy’s STRC nears $100 level that could reopen a Bitcoin funding channel

Strategy's STRC preferred stock closed eight cents below its $100 stated value as shareholders approved daily dividends on four preferred securities. Executive Chairman Michael Saylor said preliminary results from the Oct. 28 vote showed 99.3% of votes cast supported the amendment, allowing the company's four US-listed preferred securities, STRC, STRF, STRK and STRD, to accrue……

Ripple is heading for its best year ever while XRP faces its worst since 2022

Ripple anticipates its most successful business year yet, projecting a 900 million dollar revenue run rate by the end of 2026, even as XRP tracks toward its weakest annual performance since 2022.
spot_img

Related Articles

Popular Categories

spot_imgspot_img