Bitcoin and Altcoins Drop: Market Losses and Expert Warnings

user avatar

by Giorgi Kostiuk

2 years ago

The cryptocurrency market faced a worrying decline as Bitcoin's price fell below $100,000, leading to $1 billion in liquidations in the past day.

Bitcoin and Altcoins Drop

Bitcoin, which had risen to $106,000, fell below $100,000, down 4.5% in the last 24 hours. This decline was accompanied by larger losses in altcoins such as Ethereum (ETH), XRP, and Solana (SOL), while losses in Cardano (ADA) and Dogecoin (DOGE) exceeded 10%.

Impact of TRUMP and MELANIA Memecoins

The official memecoin of President-elect Donald Trump, TRUMP, had a negative impact on the memecoin market. With the launch of his wife Melania's own memecoin, MELANIA, the impact intensified, and TRUMP fell 39% to $44. Experts warn that the frenzy surrounding TRUMP and MELANIA represents the FOMO phase of the bull market, potentially leading to a significant BTC price correction.

Liquidations and Expert Warnings

Liquidations in the cryptocurrency market exceeded $1 billion in the last 24 hours. According to CoinGlass data, investors caught off guard faced $1.17 billion in liquidations. The largest liquidations occurred in the Bitcoin/USDT trading pair on Binance, with over $204 million in long liquidations.

The cryptocurrency market is experiencing significant volatility, and the continued focus on memecoins suggests a FOMO phase in the current bull market, requiring investor caution.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Taiwan Restricts Access to Coinbase and Kalshi Ahead of Elections

Taiwanese authorities have restricted access to Coinbase and Kalshi websites due to concerns over election betting.

user avatarTando Nkube

Strategy Proposes Daily Dividends for STRC Preferred Stock

Strategy has conditionally declared daily dividends for its STRC preferred stock for November 2026, pending shareholder approval.

user avatarKofi Adjeman

Ripple Prime Expands Institutional Trading with New Derivatives Access

Ripple Prime introduces access to perpetual derivatives referencing traditional assets for eligible institutional clients.

user avatarNguyen Van Long

Pirate Chain Developers Report Major Vulnerability

Pirate Chain developers disclosed a significant vulnerability leading to the creation of approximately 398 million unauthorized ARRR tokens, raising urgent questions about network supply and trust.

user avatarSatoshi Nakamura

Crypto King Aiden Pleterski Faces Criminal Charges Over Misuse of Investor Funds

A Canadian court hears evidence that Aiden Pleterski misused investor funds for personal expenses.

user avatarJesper Sørensen

BinanceUS Seeks $100 Million in Fundraising Round

BinanceUS is reportedly pursuing a $100 million fundraising round at a valuation of approximately $1 billion to strengthen its position in the American cryptocurrency market.

user avatarRajesh Kumar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.