Bitcoin, Ethereum and XRP Sink as Crypto Liquidations Top $900 Million

Key Points

1. Bitcoin's price dropped roughly 5.6% from its recent peak of nearly $120,000 to $113,411, while Ethereum fell 10.5% from around $4,000 to $3,518.

2. XRP also experienced a 10.2% decline, dropping from $3.32 to $2.98, following a similar pattern to Bitcoin and Ethereum.

3. Over $905 million in crypto derivative positions were liquidated in the last 24 hours, with more than $823 million of those being long positions.

4. Market downturns were influenced by economic factors, including a poor U.S. jobs report and geopolitical events, such as actions by the White House.

5. Analysts predict Bitcoin's price could fall as low as $80,000 before potentially surging back in Q4, with a more than 53% chance of rising to a new peak of $125,000.