Financial markets turned red early Monday amid fears that U.S. interest rates will remain high in 2025—and Bitcoin and other leading cryptocurrencies felt the weight of that concern.
Data from CoinGecko shows that Bitcoin’s price has plummeted to $90,000. This is its lowest since November, at $90198. According to CoinGecko, the top coin in terms of market capital is down nearly 9% on the week and over 4% today.
Just last week, Bitcoin briefly reclaimed a price point above the $100,000 mark, but it didn't last for long as mixed economic data helped push the price down starting last Tuesday. Bitcoin has now fallen 16% since its December high of $108,000.
Solana has fallen about 7% from $175 to just over $3,000. Dogecoin is also down nearly 6% at $0.317. Solana is down about 7% at $175. Dogecoin has dropped over 6%, to $0.317.
According to CoinGlass, positions of $544 million in futures bets on the price of cryptocurrency have been liquidated within the past 24 hour.
The vast majority of the liquidations came with long positions, or bets that an asset's price would go up in the future, with $472 million worth. Bitcoin is the leader with more than $112 Million in liquidations.