Crypto Chaos: Bitcoin Plummets 7% in $1.17B Market Meltdown

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21.12.2024 31 times read 0 Comments

Bitcoin Dips 7%, $1.17B Lost in Crypto Bloodbath

The cryptocurrency market has been hit hard by a significant sell-off, with Bitcoin and other major cryptocurrencies experiencing substantial losses. According to The Currency Analytics, over the past 24 hours alone, more than 361,972 traders were liquidated, resulting in losses exceeding $1.17 billion. Bitcoin's price fell by 7% to lows of $25,500 after reaching an all-time high just days earlier at $28,268.

This downturn represents a notable decline of about 12% from its peak value recently achieved. Most of these financial setbacks occurred within the derivatives market where many had bet on continued rises for Bitcoin; however, as markets turned bearish, numerous long positions faced liquidation totaling around $1 billion while short trades saw smaller impacts amounting up only approximately another hundred million dollars combined across various assets including Ethereum which lost nearly $220 million during this period too!

XRP News Today: SEC vs Dragonchain Filing Sparks Ripple Debate

A recent court filing involving the SEC against Dragonchain has sparked renewed debate regarding Ripple’s legal future. According to FX Empire, reports that key decisions expected soon could influence XRP prices significantly moving forward into next year, especially if appeals are withdrawn or pursued further, impacting investor sentiment greatly either way depending upon outcomes reached eventually through ongoing litigation processes currently underway right now between parties involved here today still unresolved yet fully determined conclusively until final verdicts are rendered ultimately decided later down the line, perhaps sooner rather than later.

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