BTC Dips to $85k as Traders Suffer a $120M Liquidation

TL;DR

• Bitcoin is down 2% in the last 24 hours, trading below $86k.

• Cryptocurrency traders lost $120 million in the last hour following the market’s sharp decline.

Bitcoin Dips Below $86K

The cryptocurrency market turned bearish over the past few hours after performing positively since the start of the week. Bitcoin, the leading cryptocurrency by market cap, lost nearly 2% of its value in the last 24 hours and now trades below $86k.

At press time, BTC’s price stands at $85,743 and could dip lower if the bearish momentum continues. There is no major catalyst behind this latest price decline, as it could be a healthy correction in the near term.

With Bitcoin in the red, altcoins are currently underperforming. Ether, the second-largest cryptocurrency by market cap, is down 5% and has dropped below $2k for the first time this week.

Ripple’s XRP has lost 4.6% of its value, allowing USDT to overtake it in the top 10 ranking. Dogecoin (6%), Cardano (4%), Solana (3.5%), and BNB (1%) are all trading in the red.

Thanks to the latest bearish performance, cryptocurrency traders lost $120 million in the last 60 minutes.

JUST IN: $120,000,000 liquidated from the cryptocurrency market in the past 60 minutes.

— Watcher.Guru (@WatcherGuru) March 28, 2025