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International Business Times
International Business Times
Business
Marvie Basilan

Bitcoin Plunges, Wipes Out $1 Billion From Crypto Market Hours After Momentous $100K Feat

Bitcoin Crypto United States OKX
Bitcoin skyrocketed suddenly and also crashed surprisingly within hours, triggering liquidations across the crypto market. (Credit: Bybit/flicker.com)

KEY POINTS

  • More than 200,000 crypto traders were liquidated Thursday night
  • Over $815 million were long positions – trades that bet on coins going higher
  • $BTC skyrocketed to $103,000, then plunged below $93,000 hours later before recovering to $97,000

Bitcoin hit a wondrous milestone Thursday, breaking the $100,000-mark and surging in the $103,000 highs, but just a few hours later, the world's largest cryptocurrency by market value bled out, triggering over $1 billion in liquidations across the crypto board.

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