Bitcoin dips below $104,000... $900 million liquidated in one day

Doohyun Hwang

Summary

It was reported that the price of Bitcoin fell below $104,000.
Due to this drop, approximately $858 million was liquidated from long positions.
In the global crypto derivatives market, $944 million in liquidations occurred over the past 24 hours.

The decline in Bitcoin (BTC) intensified as it broke below the $104,000 mark.

On the 30th (local time), on the Binance Tether (USDT) market, the global cryptocurrency exchange, Bitcoin was trading at approximately $103,970, down about 1% from the previous day.

This sharp drop is attributed to comments made by Donald Trump, President of the United States, regarding U.S.-China trade relations. On Truth Social, President Trump stated, “China has completely violated our agreement,” instilling concern among investors that the tariff dispute between the U.S. and China could escalate again.

As a result, there was a large volume of liquidations in long positions, which bet on a rise in Bitcoin’s price. According to data from cryptocurrency analytics platform CoinGlass, a total of $944 million was liquidated in the global crypto derivatives market over the past 24 hours. Of this amount, $858 million occurred in long positions. The scale of short position liquidations was about $85 million.

BTC