Bitcoin Falls Below $100,000, Triggering Over ¥250 Billion in Liquidations—A Six-Month Low

On November 5th, Bitcoin (BTC) fell below $100,000 for the first time in six months, reaching as low as $99,954 on Coinbase and $99,990 on CoinMarketCap, before recovering to the $101,000 range. It marked a decline of over 6% in the past 24 hours.

The total market capitalization of major cryptocurrencies decreased by 6.3% over the past 24 hours, totaling $3.3 trillion. Ethereum (ETH) also fell below $3,200, wiping out all its gains since the beginning of the year.

According to data from Coinglass, over ¥250 billion ($1.67 billion) worth of positions were forcibly liquidated in the past 24 hours, surpassing the previous day's liquidation volume...