It\u2019s been a rollercoaster of a day for Bitcoin. Its price reached a historic all-time high above $100,000 earlier, followed by a plunge toward $98,000 moments ago.<\/p>\n
As\u00a0CryptoPotato\u00a0<\/em>reported<\/a> earlier, the move above $100K followed Donald Trump\u2019s decision to make Paul Atkins the new Chairman of the United States Securities and Exchange Commission. In the words of the President-elect himself:<\/p>\n \u201cPaul is a proven leader for common sense regulations. He believes in the promise of robust, innovative capital markets that are responsive to the needs of Investors, & that provide capital to make our Economy the best in the World. [\u2026] He also recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before.\u201d<\/p>\n The price skyrocketed and reached a high of more than $104K later in the day, but the bears weren\u2019t finished.<\/p>\n In the past few hours, BTC has been bleeding out and has just dropped to almost as low as $98,000 moments ago.<\/p>\n <\/a>Source: TradingView<\/p>\n This resulted in almost $650 million worth of liquidated positions in the derivatives market, which is a 45% increase on a 24-hour basis. The majority of these are long traders, accounting for more than $400 million of the liquidations. Of course, BTC is the market where most traders are wiped off.<\/p>\n With this latest dump, many altcoins are also now trading in the red. One example is Ripple\u2019s XRP, which is down 3% on the day. Interestingly enough, it remains the best performer for the week, gaining close to 60%.<\/p>\n <\/a>Source: Quantify Crypto<\/p>\n The post Bitcoin Plunges to $98K Amid Heightened Volatility<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" It\u2019s been a rollercoaster of a day for Bitcoin. Its price reached a historic all-time high above $100,000 earlier, followed by a plunge toward $98,000 moments ago. As\u00a0CryptoPotato\u00a0reported earlier, the move above $100K followed Donald Trump\u2019s decision to make Paul Atkins the new Chairman of the United States Securities and Exchange Commission. In the words […]<\/p>\n","protected":false},"author":0,"featured_media":26156,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-26155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/26155"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26155"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/26155\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/26156"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![<\/a>Source: TradingView<\/p>\nThis resulted in almost $650 million worth of liquidated positions in the derivatives market, which is a 45% increase on a 24-hour basis. The majority of these are long traders, accounting for more than $400 million of the liquidations. Of course, BTC is the market where most traders are wiped off.<\/p>\nWith this latest dump, many altcoins are also now trading in the red. One example is Ripple\u2019s XRP, which is down 3% on the day. Interestingly enough, it remains the best performer for the week, gaining close to 60%.<\/p>\n<\/a>Source: Quantify Crypto<\/p>\nThe post Bitcoin Plunges to $98K Amid Heightened Volatility<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"It\u2019s been a rollercoaster of a day for Bitcoin. Its price reached a historic all-time high above $100,000 earlier, followed by a plunge toward $98,000 moments ago. As\u00a0CryptoPotato\u00a0reported earlier, the move above $100K followed Donald Trump\u2019s decision to make Paul Atkins the new Chairman of the United States Securities and Exchange Commission. In the words […]<\/p>\n","protected":false},"author":0,"featured_media":26156,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-26155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/26155"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26155"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/26155\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/26156"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/12\/BTCUSD_2024-12-05_22-46-26.png\"){kind=link}
![<\/a>Source: Quantify Crypto<\/p>\nThe post Bitcoin Plunges to $98K Amid Heightened Volatility<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"It\u2019s been a rollercoaster of a day for Bitcoin. Its price reached a historic all-time high above $100,000 earlier, followed by a plunge toward $98,000 moments ago. As\u00a0CryptoPotato\u00a0reported earlier, the move above $100K followed Donald Trump\u2019s decision to make Paul Atkins the new Chairman of the United States Securities and Exchange Commission. In the words […]<\/p>\n","protected":false},"author":0,"featured_media":26156,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-26155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/26155"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26155"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/26155\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/26156"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2024\/12\/Screenshot-2024-12-05-at-22.53.13.png\"){kind=link}