{"id":811842,"date":"2024-12-11T22:21:54","date_gmt":"2024-12-12T04:21:54","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/11\/bitcoin-price-plummets-toward-59k-250m-liquidated-in-a-day\/"},"modified":"2024-12-11T22:21:54","modified_gmt":"2024-12-12T04:21:54","slug":"bitcoin-price-plummets-toward-59k-250m-liquidated-in-a-day","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/11\/bitcoin-price-plummets-toward-59k-250m-liquidated-in-a-day\/","title":{"rendered":"Bitcoin Price Plummets Toward $59K, $250M Liquidated in a Day"},"content":{"rendered":"

Bitcoins <\/p>\n

\n
\n
\n
\n

The cryptocurrency market has seen better days.<\/p>\n

Bitcoin\u2019s price hovered at the $62,000 range for a few days, but it appears that the bears were finally able to take full control.<\/p>\n

Just a few moments ago, BTC dropped below $59,000, reaching a local low of $58,867.<\/p>\n

<\/a>
Source: TradingView<\/figcaption><\/figure>\n

The move has resulted in the liquidation of more than $250 million in leveraged positions, the majority of which, of course, is long.<\/p>\n

As\u00a0CryptoPotato\u00a0<\/em>reported earlier today, Bitcoin\u2019s price reacted negatively to the announcement of higher-than-expected CPI numbers. The Consumer Price Index is a gauge for inflation in the United States. An increase essentially means that the Federal Reserve might not cut rates again in November, which is bad news for risk-on assets such as Bitcoin.<\/p>\n

SPECIAL OFFER (Sponsored)<\/span><\/center><\/p>\n

Binance Free $600 (CryptoPotato Exclusive): Use this link<\/a> to register a new account and receive $600 exclusive welcome offer on Binance<\/b> (full details<\/a>).<\/p>\n

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div><\/div>\n

<\/div>\n<\/section>\n

Becki Drews Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The cryptocurrency market has seen better days. Bitcoin\u2019s price hovered at the $62,000 range for a few days, but it appears that the bears were finally able to take full control. Just a few moments ago, BTC dropped below $59,000, reaching a local low of $58,867. Source: TradingView The move has resulted in the liquidation<\/p>\n","protected":false},"author":1,"featured_media":811843,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4041,4759],"tags":[11476],"class_list":{"0":"post-811842","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"category-price","9":"tag-bitcoins"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/811842","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=811842"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/811842\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/811843"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=811842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=811842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=811842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}