Bitcoin prices fell sharply on Wednesday, briefly slipping below the $100,000 mark amid sustained selling pressure in the spot market. The decline in cryptocurrency prices mirrored a broader sell-off in risk assets, as mounting concerns over stretched valuations weighed on investor sentiment.
The world’s largest cryptocurrency, Bitcoin prices traded 3.7% lower at $101,822 after earlier dropping to $99,010.06 — its weakest level since mid-June. Ethereum price was down 6.76% to $3,331.65, while Solana price traded 3.16% lower at $157.66. XRP price fell 3.16% to $2.24 and Dogecoin price was down 1.47% to $0.165.
Bitcoin prices have has now entered bear market territory, having fallen more than 20% from its record high of $126,186 reached in early October.
$1.3 Billion Liquidation Spree
The latest decline in Bitcoin prices followed data from analytics firm CoinGlass, which showed that over $1.27 billion in leveraged crypto positions…
