Bitcoin's Nosedive to Under $100K Shaves $700M Crypto Longs, XRP Drops 5%

Quick Summary:

XRP and DOGE futures recorded an unusually high $70 million in liquidations, indicative of rising speculative activity in majors.

A liquidation occurs when an exchange forcefully closes a trader's leveraged position due to the trader's inability to meet the margin requirements.

Some traders say Powell’s comment may mark a local top, dampening expectations of a continued rally toward the end of the month.“Crypto markets may have entered a peak if a U.S.

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Article Details

Author / Journalist: Shaurya Malwa

Category: Crypto

Markets: United StatesCubaSingapore

Topics: Coindesk Million Market Liquidations Fell Bullish Crypto Bitcoin Futures Reserve Tokens

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-19 @ 06:24:45 (13 hours ago)

News Timezone: GMT -5:00

News Source URL: coindesk.com

Language: English

Article Length: 469 words

Reading Time: 3 minutes read

Sentences: 31 lines

Sentence Length: 16 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinDesk

News ID: 24545033

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Main Topics: Crypto

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