$100K Bitcoin Pump-and-Dump: Analyzing the BTC Liquidations
Bitcoin Experiences a $100K Pump-and-Dump
Bitcoin (BTC) recently reached the significant $100,000 mark on December 5, 2023, only to fall sharply within a short span.
- Bitcoin surged from $98,100 to $104,100.
- Quickly dropped to $91,950.
- Another surge above $98,000 occurred.
This volatility has resulted in massive market movements, with nearly $500 million liquidated in just 24 hours.
Impact of Liquidations
The significant liquidations of BTC included:
- $486.92 million total in 24 hours.
- Bulls lost $416.79 million in 24 hours.
- Largest single liquidation was $18.94 million on OKX.
Bitcoin accounted for 54.5% of crypto liquidations, with 165,955 traders impacted.
Future Price Predictions Amid Volatility
Despite these troubling events, bullish sentiment persists, as several analyses forecast:
- BTC to range between $94,782 and $101,273 by the end of 2024.
- Potential rise to $140,000 by February 2025.
- Standard Chartered's prediction of $200,000 by end of 2025.
However, caution is warranted as these price fluctuations may present both risks and opportunities for savvy investors. It is crucial for traders to maintain thorough plans to navigate through Bitcoin's market volatility.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.