As per the onchain analytics platform CoinGlass, crypto positions worth $971.06 million got liquidated in an hour. $956 million in long and $15 million in short positions got wiped out. Bitcoin (BTC) led the rout with $507 million, followed by Ethereum (ETH) with $195 million.

By Scott Murdoch SYDNEY (Reuters) -Binance Chief Executive Richard Teng said on Friday bitcoin's sharp drop in the past month was the result of investors deleveraging cryptocurrency holdings and risk aversion in line with that seen in most major asset classes.

But there’s one company in particular that’s painfully exposed to a Bitcoin price crash: Michael Saylor’s Strategy. It now has almost 650,000 BTC in its warchest — that’s equivalent to 3% of total supply — after a debt-fueled spending binge.

Gunden built his wealth as an early Bitcoin arbitrage trader on Tradehill and the now-defunct Mt. Gox, where he reportedly handled tens of thousands of BTC before the exchange collapsed in 2014. His recent moves align with a broader wave of retail selling, amplified by fears that the latest bull cycle may be nearing exhaustion.

Other major cryptocurrencies like Ethereum, Ripple, Solana, Binance, Tether, Dogecoin and Cardano have also suffered significant losses.

The likelihood of bitcoin ending the year below $90,000 has risen to 50%, according to online options platform Derive.xyz, as traders ramped up hedging against more declines in the world's largest cryptocurrency.

Bitcoin prices pushed lower on Thursday, November 20, extending recent losses as macro variables fueled weakness in the markets.

Speculation rises as Bitcoin nears its demand zone – Bitcoin price prediction now points to an $86K pivot fueling market FOMO.

Bitcoin dropped deeper into a bear market as investors fret over liquidity, Fed rate cuts, and a broader tech sell-off that's crushed risk appetite.

Bitcoin is struggling again. The main cryptocurrency was trading 3% lower at $83,610, putting it some 30% away from its record high. Other cryptos including Ethereum and Ripple also saw heavy declines.

Bitcoiners quickly took to social media to express their excitement after US Treasury Secretary Scott Bessent showed up at PubKey, a new Bitcoin-themed bar in Washington.

Bitcoin fell more than 9.1% on Friday, extending its downward trend as expectations for a US Federal Reserve rate cut weakened while concerns over tech-sector overvaluation increased. The largest cryptocurrency was trading at $83,790 at 0850GMT Friday, after falling below the $90,000 level on Tuesday for the first time since April.

Liquidity has been draining out of the financial system, putting pressure on speculative assets like cryptocurrencies.