Bitcoin plummets to $112, liquidating 210 traders
- Bitcoin Falls to $112 on High Liquidation
- Altcoins suffer double-digit market losses
- Liquidations total US$630 million in one day
After a remarkable recovery over the weekend, Bitcoin returned to sharp instability after being rejected at the $116 resistance level, triggering a new sharp decline in the cryptocurrency market. The leading cryptocurrency fell by more than $4, trading below $112 on Tuesday, with its market capitalization falling to around $2,235 trillion, according to data from CoinGlass.
Selling pressure surfaced shortly after BTC hit its recent peak, interrupting what appeared to be a steady recovery from $101 — the low after the last drop, which was fueled by statements from current US President Donald Trump about trade tariffs against China.
Even with the pullback, Bitcoin's dominance over altcoins rose slightly, reaching 57,5%, reflecting the currency's relative strength against other cryptocurrencies at the moment.
Meanwhile, altcoins suffered even more severe losses. BNB, which had hit a new all-time high on Monday, fell more than 11% and is close to breaking the $1.200 support. MNT and ZEC also featured among the largest daily losses, with corrections exceeding 10%.
Ethereum fell 4% to $4.000. XRP, meanwhile, fell 6% to below $2,50. Dogecoin, meanwhile, suffered a 5,25% drop, now trading at $0,20. Other altcoins such as ADA, HYPE, and XLM have also accumulated significant losses during this period.
This volatility resulted in a large volume of leveraged position liquidations. More than 210 traders were affected in the last 24 hours, with a total liquidation value of approximately US$630 million, highlighting the risk of highly leveraged trading during times of strong market fluctuations.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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