Bitcoin plummets to $86,700, triggering a wave of liquidations.
Bitcoin dropped to $86,700 on Monday, December 15, causing liquidations of over $210 million in an hour. This rapid and unexpected movement surprised the market, highlighting the high vulnerability of cryptocurrencies to volatility and economic stress.
In brief
Bitcoin fell to $86,700 on Monday, December 15, reaching its lowest level in two weeks.
This sudden drop caused liquidations of more than $210 million in a single hour.
In 24 hours, the accumulated losses in the market surpassed $450 million, affecting nearly 145,000 traders.
Major cryptocurrencies like Ethereum, XRP, BNB, and Solana also experienced significant declines.
A brutal and sudden collapse of Bitcoin
While Bitcoin was trading peacefully around $90,000 in the early hours of Monday, the market suddenly crashed, driving the asset price down to $86,700, a two-week low.
This rapid decline was followed by a wave of massive sell-offs, totaling $210 million in just one hour. In the previous 24 hours, total sales reached $450 million, primarily in long positions.
Bitcoin alone accounted for $66 million in liquidated positions in one hour, closely followed by Ethereum with $65 million. Nearly 145,000 positions were liquidated throughout the day.
This sudden correction triggered a chain reaction throughout the cryptocurrency market, with significant losses in several major assets. The highest-cap altcoins were also severely affected by this drop.
Ethereum (ETH): down 4.4% in one hour, near to surpassing the $3,000 threshold;
XRP: down 3%, losing key support at $2;
BNB: a decrease of 4% over the same time window.
