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COINTURK NEWS > Bitcoin (BTC) > Bitcoin Plummets as Market Faces Heavy Liquidations
Bitcoin (BTC)

Bitcoin Plummets as Market Faces Heavy Liquidations

In Brief

  • Bitcoin's price fell below $90,000 due to market sell-offs.

  • US economic data and upcoming inflation reports raise concerns.

  • XRP Coin remains strong amidst widespread losses in altcoins.

İlayda Peker
İlayda Peker 5 months ago
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As the article was prepared, the king of cryptocurrencies, Bitcoin $104,242, has dipped below $90,000, triggering significant liquidations in altcoins. The rapid sell-offs have intensified following a negative opening in US markets, leading Bitcoin to plummet further.

Bitcoin Declines

Recent US economic data has worsened the macroeconomic outlook. Moreover, it is anticipated that billions of dollars worth of Silkroad Bitcoin, which the US government received permission to sell before Trump’s inauguration, will be sold in the upcoming five days. Additionally, inflation data expected this week is projected to show an increase, with market expectations suggesting inflation could approach 3% compared to the previous month.

Due to the bearish opening in US markets, the price of Bitcoin has declined to $89,256 at the time of writing. In the altcoin market, losses have exceeded 10%, with the only strong performer being XRP Coin. In the last hour alone, liquidations have amounted to a total of $137 million.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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İlayda Peker 13 January, 2025 - 5:45 pm 13 January, 2025 - 5:45 pm
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