Bitcoin’s Recovery from the Bottom: High Volatility and Occurrence of Liquidations! Presenting the Latest Status

The world’s largest cryptocurrency, Bitcoin, fell below $90,000 today, but quickly rebounded and is currently trading around $92,500.
The cryptocurrency dropped to its lowest point of the day at $89,256, but saw a 4% increase in value shortly after.


Nevertheless, Bitcoin’s price volatility persists, with significant price fluctuations occurring within minutes. The reason for this increase in volatility is unknown, but it is speculated that the price may be influenced by Donald Trump assuming the presidency on January 20, leading to a “sell-the-news” type of situation.
Despite the recent increase in Bitcoin’s price, it is still trading 2.81% lower than it was in the past 24 hours.
The heightened volatility has also triggered a significant wave of liquidation in the cryptocurrency market. According to data, $705 million worth of assets were liquidated in the past 24 hours. Interestingly, the majority of liquidation occurred in Ethereum, amounting to $171 million, rather than in Bitcoin.
*This information should not be considered as investment advice.