Bitcoin fell more than 7% in 24 hours and dropped back below $69,000 after losing the $75,000 support at the end of August. It is now down 21.5% since the beginning of January and more than 30% over the past 12 months. Crypto derivatives recorded $1.63 billion in liquidations, nearly 90% of which involved long positions, with 185,556 traders liquidated. Bitcoin accounted for $909 million in liquidations, ahead of Ethereum at $385.4 million and Solana at $57.5 million. The cited factors include the risk of a 50-basis-point US interest-rate increase in December, Nvidia’s record market-value losses and Strategy’s exclusion from the MSCI indices.
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