Bitcoin, Ethereum, and XRP Prices Fall to Lowest Levels This Week Amid Massive Liquidations
Bitcoin's price dropped to around $85,833, marking its lowest level since December 1, according to CoinGecko, with a decline of more than 3% over the last 24 hours.
Ethereum fell to $2,955, while XRP dropped to $1.90, its lowest so far in December, both down approximately 4% to 4.5%.
The total cryptocurrency liquidations reached $573 million in the last 24 hours, with long positions making up $486 million of that.
Bitcoin led liquidations at $205 million, followed by Ethereum at $156 million.
Overall, the crypto market experienced a decline of over 3% in a 24-hour period.
In comparison, traditional stock indices also saw modest losses, with the S&P 500 down 0.1% and the Nasdaq dropping 0.3%.
Crypto-related stocks also faced significant declines: CleanSpark (CLSK) fell 15%, Gemini (GEMI) dropped 12%, BitMine and Immersion both declined 8%, Coinbase was down over 5%, and Robinhood declined by less than 2%.
Additionally, the probability of a Santa rally in the market has fallen to under 8%, down from about 20% a week ago.
