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Bitcoin plunges toward $100,000 as $1.3B in crypto liquidations hit markets

Bitcoin dropped below $104,000, wiping out billions in leveraged positions. Traders now eye $100,000 as the next key support, with some targeting $92,000 if the slide continues.

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Bitcoin falls below $104K as liquidations hit $1.3B

Bitcoin’s $100K floor under pressure as traders warn of $92K target

Bitcoin falls below $104K as liquidations hit $1.3B

A sharp sell-off triggered widespread crypto losses as traders rushed to reduce leverage.

  • $1.3B in liquidations: Over $1.21 billion in long positions were wiped out, with Bitcoin leading at $377 million and Ether at $316 million.

  • 17% drop from all-time high: Bitcoin’s price is now down 17% from its October peak of $126,000.

  • Open interest decline: Bitcoin futures open interest fell 4% across exchanges, signaling reduced market participation.

“After a bunch of attempts, bears have finally forced their Bitcoin breakdown,” said trader Jelle.

“The next area of support is $100K.”

Bitcoin’s $100K floor under pressure as traders warn of $92K target

New buyers face losses as Bitcoin breaks key support levels and futures data flash stress signals.

  • Price slips under $104K: Bitcoin hit $103,732, with traders bracing for a test of $100,000.

  • $92K CME gap: Analysts highlight a futures gap near $92,000 that could act as the next downside target.

  • Short-term holders capitulate: Glassnode data shows recent buyers now deep in unrealized losses, a signal often tied to market bottoms.

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“Bitcoin is in free fall right now,” said investor Ted Pillows.

“There's no strong support until $100,000, and if that breaks, expect $92,000.”

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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results