Well, well, well, it seems the crypto market took a dramatic leap from “meh” to “OH MY GOSH” this Sunday, only to crash harder than an untrained elephant on roller skates. Bitcoin (BTC) shot up to a dazzling $107,114 on Binance, before deciding that was far too much excitement for one day. Naturally, it plummeted, dragging the entire market down with it. Who could have predicted this? Oh wait, we did—sort of.
After Bitcoin’s brief moment of glory, the crypto market cap took a sudden dive of 2.7%, now chilling at $3.36 trillion. Meanwhile, Ethereum (ETH), Dogecoin (DOGE), and XRP were too busy having their own little pity party, with drops of 4.7%, 0.9%, and 1.1% respectively. It’s like watching your friends win the lottery, then suddenly get hit by a bus. Quite the emotional roller coaster.
CoinGlass data (because, of course, the market has a glass now) reveals that a staggering $651 million in positions got liquidated in the past 24 hours. Bitcoin, doing its best impression of a confused kangaroo, jumped between $107k and $102k in the blink of an eye. One moment it was on top of the world, the next it was back to reality, slinking down like a teenager with a broken phone.
Why on earth is Bitcoin (BTC) crashing today? Glad you asked! From a purely technical point of view (i.e. the realm of charts that no one truly understands), Bitcoin had a little flirt with last week’s high of $105,663. But like any romance with Bitcoin, it didn’t last. A massive sell-off followed, and down it went—like a deflating balloon. From a high of $107,114, it dropped 4.23% to a sad local bottom of $102,579. A rough day for BTC, truly.
As we’ve mentioned in the past (and by “we,” we mean the experts you’ll never meet), Bitcoin might just keep sliding down to the $100k to $99k support zone. So, if you’ve got some spare change laying around, that’s your cue. It’s like the ‘buy one, get one free’ of crypto crashes.
Want more wild crypto tales? Check out the full report over at Coingape.com. Hold onto your hats, folks!
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2025-05-19 11:58