Bitcoin fell below $80,000 on Saturday and touched a 9-day low of $79,750, dragging most altcoins lower. Liquidations on CoinGlass reached $670 million over the past day, and more than 213,000 traders were wiped out.
Bitcoin dipped below $80,000 on Saturday and reached a 9-day low at $79,750, where it found some support. It is the second time in about ten days that BTC has dropped under that level.
A rally near $85,000 fades
BTC neared $85,000 on Wednesday for the first time in about two weeks. The bears then regained control, and over the following 24-36 hours the price fell to $81,000.
BTC held between $81,000 and $82,000 on Friday. Bearish momentum returned on Saturday and pushed it under $80,000.
Altcoins follow Bitcoin lower
The drop took most altcoins with it. ETH sits below $2,350, BNB under $730, and XRP has confirmed its drop below $1.30.
ZEC and NEAR fell 7.5% and over 10%, respectively. SOL slipped below $100, and Crypto News Flash reports that it is Solana's first dip under that level since early September.
Liquidations climb to $670 million
The total value of wrecked positions reached $670 million on CoinGlass over the past day. Of that, $232 million came in the past hours alone, and $220 million of it was from long positions.
Over 213,000 traders have been wiped out in the same period. The single-largest liquidated position took place on Binance and was worth almost $12 million.
Sources: CryptoPotato, Crypto News Flash
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