Is The Crypto Market In Danger After Bitcoin’s Fall?

2 min read | January 27, 2025 12:00 AM EST | By Team Kalkine Media

Google News:

Is The Crypto Market In Danger After Bitcoin’s Fall? — Image source: shutterstock

Recent News

Could Venture Index Energy Producers Gain From Active Output?

Can Enbridge’s Infrastructure Strength Support the S&P/TSX 60 Index?

Can TSX Utility Dividend Strength Keep Long-Term Investors Interested?

Graphite One (TSXV:GPH) Continues Executing on U.S.-Based Graphite Sup...

Make Kalkine Media
My Trusted Source

Highlights:

Bitcoin falls below $100,000, marking a 5% daily drop and pushing the market capitalization below $2 trillion.

Altcoins such as Ethereum and XRP suffer sharp declines, with other tokens facing significant losses.

Over $600 million in liquidations recorded, including a large $98 million position loss.

The cryptocurrency market has seen significant turbulence with Bitcoin dipping below $100,000, triggering substantial declines across its market capitalization and impacting major cryptocurrencies. After maintaining a steady position over the weekend around $105,000, the largest digital asset experienced a sharp decline, hitting a weekly low. This marked a 5% drop, causing Bitcoin’s market value to fall under the critical $2 trillion threshold.

Altcoins have faced even greater pressure, intensifying the market’s downward momentum. Ethereum, which had been hovering around $3,400, saw a drastic drop to near $3,100 in just one day. XRP dropped below $3 for the first time in weeks, while other altcoins, including BNB, ADA, and LINK, also experienced significant losses. Many smaller tokens such as Solana, Dogecoin, and others posted double-digit percentage declines, signaling broader market instability.

Liquidations have been rampant across cryptocurrency exchanges during this period. Data from CoinGlass reveals that total liquidations surpassed $600 million, with a majority of that happening within the past 12 hours. Over 230,000 traders faced liquidations, with the largest individual liquidation reaching close to $98 million on the HTX platform, involving the BTC/USDT pair.

As Bitcoin and other cryptocurrencies continue to struggle, the market remains highly volatile, presenting ongoing challenges for market participants. The recent downturn serves as a reminder of the unpredictable nature of the cryptocurrency sector. The swift drop in Bitcoin's value, coupled with significant losses among altcoins, highlights the uncertainties that persist in the market.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Incorporated (Kalkine Media), Business Number: 720744275BC0001 and is available for personal and non-commercial use only. The advice given by Kalkine Media through its Content is general information only and it does not take into account the user’s personal investment objectives, financial situation and specific needs. Users should make their own enquiries about any investment and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media is not registered as an investment adviser in Canada under either the provincial or territorial Securities Acts. Some of the Content on this website may be sponsored/non-sponsored, as applicable, however, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used in the Content unless stated otherwise. The images/music that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.