On December 3, the cryptocurrency market saw over $400 million worth of digital assets gone as Bitcoin fell below $45k.
Bitcoin continues to fall after experiencing a sharp price drop over the last few hours. The decline caused over $400 million worth of long and short positions to get liquidated.
This comes as Bitcoin briefly was trading within $56-$57 earlier today. However, investors and analysts said that failing to go above the resistance level caused the largest crypto by market cap to fall below $45k.
In addition, the Bitcoin price drop caused also other cryptos like ETH, ADA, SOL, XRP, and many others to fall as well, causing hundreds of dollars to plummet. According to CoinMarketCap, Bitcoin fell to around $44k. Binance Futures also saw the price decline below $45k.
Since then, the price has recovered slightly, trading at $47,071 at press time. Moreover, the Bitcoin market cap also dropped below the $1 trillion market cap level, swinging around $888 billion.