In brief
- Bitcoin dove to a price of nearly $81,000 on Friday morning, and briefly returned above $85,000 before falling again.
- Crypto market liquidations topped $2.2 billion as other coins fell even harder than Bitcoin.
- Bitcoin has fallen by more than 33% since hitting a new all-time high price in October.
It’s already been a wild Friday for the crypto markets, with Bitcoin diving to a price of nearly $81,000—the lowest mark seen since April—as altcoins marked even sharper dives, leading to billions of dollars’ worth of liquidations.
But Bitcoin and other top coins are starting to recover, with the price of BTC recently rebounding back above $85,000 as Ethereum, XRP, Solana, and Dogecoin are among majors inching back up the charts after posting sizable losses.
However, the gains aren’t holding. Bitcoin has again dipped, though, trading around $83,619 at the time of publication, down more than 7% on the day.
Meanwhile, Ethereum ($2,728), XRP ($1.93), and BNB ($818) are all showing daily losses of nearly 9% or more, with Dogecoin ($0.139) diving about 12% over the last 24 hours. XRP is the biggest loser this week among the top 10 cryptocurrencies by market cap, shedding around 15% over the past seven days.
The earlier dive and subsequent volatility has wreaked havoc on futures markets, with CoinGlass recording more than $2.2 billion worth of liquidations over the past 24 hours—with over $2 billion coming from shorts.
Wiped Bitcoin positions make up the bulk of the carnage, with $1.14 billion worth of liquidations.
At its current price, Bitcoin has now fallen by more than 33% since setting a new all-time high mark above $126,000 in early October.
Nearly $1 billion was wiped out in an hour earlier Friday as Bitcoin dove below the $82,000 mark, bottoming out at $81,050 according to data from CoinGecko. Today’s liquidation frenzy is the biggest crypto markets wipeout since October 10, when a record $19 billion worth of positions were wiped out following President Trump’s tariffs threat against China.
Editor’s note: This story is breaking and will be updated with additional details.
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