Bitcoin extended losses on Tuesday, tumbling below $105,000, as one of the largest liquidation waves in weeks swept through crypto markets and investors grew wary over the U.S. Federal Reserve’s rate outlook.
The world’s largest cryptocurrency last traded 2.4% lower at $104,956.8 by 01:02 ET (06:02 GMT).
Bitcoin declined nearly 4% in the previous session, reaching its lowest level since mid-October.
Bitcoin slumps further after a liquidation wave Data from CoinGlass showed that more than $1.27 billion in leveraged futures positions across cryptocurrencies were wiped out in the past 24 hours, marking the biggest wave of liquidations in weeks.
Most of the losses came from long positions, as traders betting on further price gains were forced to unwind amid a sudden plunge in Bitcoin’s price.
The sharp drop came as risk appetite soured across global markets, with investors digesting mixed signals from Federal Reserve officials on the path of monetary policy.
Fed Governor Lisa Cook said on Monday that inflation was “moving in the right direction but not fast enough,” while San Francisco Fed President Mary Daly cautioned that the central bank should not commit to further rate cuts until there is clearer evidence of slowing price pressures.
The conflicting messages reinforced uncertainty over whether the Fed will follow through with another rate cut in December, prompting traders to scale back risk exposure.
A firmer U.S. dollar and rising Treasury yields added to the pressure on Bitcoin and other cryptocurrencies. Bitcoin’s decline extended a volatile start to November, following its first loss during the historically bullish month of October since 2018.
Cipher Mining shares surge on $5.5 bln AWS deal Shares of Cipher Mining (NASDAQ:CIFR) climbed over 20% on Monday after the company announced a $5.5 billion, 15-year lease with Amazon Web Services Inc.
The deal to supply 300 megawatts of capacity for its AI infrastructure beginning in 2026 underscores Cipher’s strategic pivot from cryptocurrency mining into the booming high-performance computing and AI-hosting sector.
Crypto price today: altcoins slump, Solana plunges 10% Most altcoins also saw sharp, extended losses on Tuesday, similar to Bitcoin’s decline
World no.2 crypto Ethereum dropped 6% to $3,497.92.
World no. 3 crypto XRP fell 5.5% to $2.28.
Solana plunged 10.1%, while Cardano declined 5.5%, and Polygon lost 7.6%.
Among meme tokens, Dogecoin dropped 5%, $TRUMP retreated 8.3%.
