$470 Million in Crypto Liquidations Amid Bitcoin Pullback and Altcoin Surge
Bitcoin’s failure to surpass $100,000 on November 24 triggered $470 million in crypto liquidations, one of the largest events in six months. Data from CoinGlass revealed $352.6 million in long liquidations and $119.9 million in shorts, with altcoins bearing the brunt of losses. Key Liquidation Figures:Bitcoin & Ether: $108.9M combined. Dogecoin: $33.1M. XRP: $27.6M. Stellar (XLM): $21.6M. This came as altcoins from the 2020-2021 bull cycle surged, with some like Stellar gaining up to 50%. Dogecoin hit a new ATH since May 2021. Analysts link this rally to renewed trader interest in undervalued utility tokens and familiar assets from previous cycles. Bitcoin’s price, now $95,790, is down 3.5% from its $99,645 ATH on November 22, yet it remains up 44% since Donald Trump’s election win. Bitcoin dominance stands at 56.2% of the $3.46T crypto market cap, reflecting continued strength amid altcoin momentum.
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$470 Million in Crypto Liquidations Amid Bitcoin Pullback and Altcoin Surge
Bitcoin’s failure to surpass $100,000 on November 24 triggered $470 million in crypto liquidations, one of the largest events in six months. Data from CoinGlass revealed $352.6 million in long liquidations and $119.9 million in shorts, with altcoins bearing the brunt of losses.
Key Liquidation Figures:Bitcoin & Ether: $108.9M combined.
Dogecoin: $33.1M.
XRP: $27.6M.
Stellar (XLM): $21.6M.
This came as altcoins from the 2020-2021 bull cycle surged, with some like Stellar gaining up to 50%. Dogecoin hit a new ATH since May 2021. Analysts link this rally to renewed trader interest in undervalued utility tokens and familiar assets from previous cycles.
Bitcoin’s price, now $95,790, is down 3.5% from its $99,645 ATH on November 22, yet it remains up 44% since Donald Trump’s election win. Bitcoin dominance stands at 56.2% of the $3.46T crypto market cap, reflecting continued strength amid altcoin momentum.