Today, Bitcoin dropped below $95,000 for the first time in approximately six months as a wave of risk aversion swept through markets, causing investors to withdraw nearly $900 million from funds holding the token.
Today’s decline brings Bitcoin close to wiping out its year-to-date gains, with a drop of up to 4.3% to $94,508.
Ethereum ETFs also posted heavy redemptions, with $259.7 million in net outflows.
In early October, Bitcoin reached a new high of $126,251; however, shortly afterward, $19 billion in liquidations took place on October 10, which wiped out over $1 trillion from the total market value of all cryptocurrencies.
Analysts report that over $1.11 billion in positions were liquidated in the past 24 hours, affecting more than 248,506 traders.
By CEO NA Editorial Staff
