🚀 After hitting an all-time high of $93,000 on Wednesday, Bitcoin saw a sharp drop Thursday, pulling down other major cryptocurrencies. Bitcoin is now trading at $87,805, a 6% decline in the past 24 hours, according to CoinGecko.
📉 Ethereum followed suit, falling about 8% to $3,083. The correction came as investors anticipated Fed Chair Jerome Powell’s upcoming speech, expected to signal key monetary policy moves. U.S. stock indices have also dipped slightly.
💥 Crypto longs took a hit, with $617 million in positions liquidated across all tokens over the last 24 hours—$444 million of which were long positions. Bitcoin led with $179 million in liquidations, including $135 million in longs.
🐶 Dogecoin and Solana also saw declines, with Dogecoin down nearly 6% to $0.39 and Solana slipping over 2% to $212.
Despite this dip, the market remains optimistic following Donald Trump’s election win. The President-elect has pledged to support the crypto industry, aiming to make the U.S. the "crypto capital of the planet."
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