{"id":38390,"date":"2025-01-23T15:38:30","date_gmt":"2025-01-23T15:38:30","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=38390"},"modified":"2025-01-23T15:38:30","modified_gmt":"2025-01-23T15:38:30","slug":"btc-faces-massive-volatility-above-100k-as-liquidations-surge-to-300m","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=38390","title":{"rendered":"BTC Faces Massive Volatility Above $100K as Liquidations Surge to $300M"},"content":{"rendered":"

Bitcoin\u2019s price actions were somewhat dull for most of the day, but the asset went on a wild rollercoaster in the past hour or so, pumping and dumping by several grand.<\/p>\n

This has caused a lot of pain for over-leveraged traders, with more than 120,000 such market participants getting wrecked in the past 24 hours.<\/p>\n

<\/a>BTCUSD. Source: TradingView<\/p>\n

As reported<\/a> earlier today, the primary cryptocurrency had started to lose traction following the Monday drop, subsequent all-time high, and yet another decline, and stood at $102,000. Its value decreased a bit more as the day progressed and slipped to $101,200.<\/p>\n

It recovered some ground to $102,000 but then exploded out of the blue to $106,000 within minutes. This somewhat surprising rally was met by a steep rejection that pushed it south to $102,500 before the bulls sent it to $104,000 as of now.<\/p>\n

Perhaps the most evident reason behind this substantial volatility is a cryptic couple of tweets by US Senator from Wyoming \u2013 Cynthia Lummis. The long-term BTC supporter, who has actively been pushing<\/a> for a Bitcoin reserve in the US, used the asset\u2019s logo to say, \u201c\u20bfig things are coming\u201d at 10 AM (probably EST).<\/p>\n

Although that time has passed and there\u2019s no big announcement yet, her comments were seen by almost 4 million people in an hour, which could explain the hype around BTC.<\/p>\n

Fox Business\u2019 Eleanor Terrett picked up the post and said that Lummis is likely to be voted in to become the chair of the digital asset subcommittee.<\/p>\n

The Senate Banking Committee is set to vote at a 10AM EST markup on @SenLummis<\/a> becoming chair of the digital assets subcommittee.<\/p>\n

Unclear if anything else will be announced. https:\/\/t.co\/OfTE4WHd7I<\/a><\/p>\n

\u2014 Eleanor Terrett (@EleanorTerrett) January 23, 2025<\/a><\/p>\n\n

Data from CoinGlass shows that the total value of liquidations is up to $300 million on a daily scale, with 124,000 traders wrecked within the same timeframe. The biggest liquidated position took place on OKX and was worth almost $6 million.<\/p>\n

<\/a>Liquidation Heat Map. Source: CoinGlass<\/p>\n

The post BTC Faces Massive Volatility Above $100K as Liquidations Surge to $300M<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin\u2019s price actions were somewhat dull for most of the day, but the asset went on a wild rollercoaster in the past hour or so, pumping and dumping by several grand. This has caused a lot of pain for over-leveraged traders, with more than 120,000 such market participants getting wrecked in the past 24 hours. […]<\/p>\n","protected":false},"author":0,"featured_media":38391,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-38390","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\/38390"}],"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=38390"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/38390\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/38391"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=38390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=38390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=38390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}