Bitcoin (BTC) is losing more weight as the year slowly winds to an end, as it lost close to $5,000 within a day on November 26. At the moment, the king coin is trading at $54,399 after plunging nearly 8% on the 24-hour chart.
Bitcoin was previously on the way to $60,000 on Thursday as it attempted to break the mark, slowly heading to its previous all-time high above $68,000. However, the asset’s attempt didn’t yield much fruit as the bears eventually took over. As of press time, Coinglass liquidation data shows that more than $214 million worth of Bitcoin has been liquidated in the last 24 hours. General crypto market liquidations neared $650 million.
As much as the Bitcoin community reeled in pain, some players felt differently. For instance, popular crypto trader and analyst Michael van de Poppe described the Bitcoin price action as “beautiful.” Adding that he liked the price movement, van de Poppe also seemed cheerful that “many pumps on markets are getting retraced fully.”
The altcoin market also saw its fair share of plunges as Bitcoin fell. For instance, Ethereum (ETH) is currently down 9.7% over the last 24 hours and is trading at $4,091. Binance Coin (BNB) also fell 7.33% to $589.75, while Solana (SOL) dropped by 7.1% to $197.15. The biggest plunge of the ten largest coins is Polkadot (DOT) which has fallen by more than 11%.
Image Credits: Pixabay
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