403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Bitcoin Sees Nearly Six Percent Price Drop on Tuesday
(MENAFN) Bitcoin tumbled nearly 6% on Tuesday, pressured by a surging U.S. dollar and a wave of cryptocurrency liquidations totaling $1.3 billion.
The world’s largest cryptocurrency was trading at $100,980 at 1850GMT and briefly slipped below the $100,000 threshold for the first time in four months.
Data from the CoinMarketCap analysis firm showed the total value of the global cryptocurrency market, including Bitcoin, fell roughly 5.8% over the past 24 hours to $3.35 trillion.
Bitcoin’s market capitalization also dropped 5.8% in a single day to $2 trillion, while daily trading volume jumped more than 39% to $92 billion.
Despite the recent decline, Bitcoin remains up nearly 7.7% since the start of 2025.
Ethereum, the second-largest cryptocurrency by market capitalization, experienced a sharper drop, falling 9.8% to $3,290.
The U.S. dollar index climbed above 100 on Tuesday for the first time since August, fueled by lingering uncertainty over the Federal Reserve’s interest rate cut strategy. The dollar index rose 0.3% Tuesday to 100.17.
Meanwhile, data from CoinGlass indicated that the past 24 hours saw the largest wave of liquidations in weeks, erasing nearly $1.27 billion in leveraged futures contracts across the crypto market.
The world’s largest cryptocurrency was trading at $100,980 at 1850GMT and briefly slipped below the $100,000 threshold for the first time in four months.
Data from the CoinMarketCap analysis firm showed the total value of the global cryptocurrency market, including Bitcoin, fell roughly 5.8% over the past 24 hours to $3.35 trillion.
Bitcoin’s market capitalization also dropped 5.8% in a single day to $2 trillion, while daily trading volume jumped more than 39% to $92 billion.
Despite the recent decline, Bitcoin remains up nearly 7.7% since the start of 2025.
Ethereum, the second-largest cryptocurrency by market capitalization, experienced a sharper drop, falling 9.8% to $3,290.
The U.S. dollar index climbed above 100 on Tuesday for the first time since August, fueled by lingering uncertainty over the Federal Reserve’s interest rate cut strategy. The dollar index rose 0.3% Tuesday to 100.17.
Meanwhile, data from CoinGlass indicated that the past 24 hours saw the largest wave of liquidations in weeks, erasing nearly $1.27 billion in leveraged futures contracts across the crypto market.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment