TechFlow news, on December 6, according to The Block, Bitcoin's price briefly surpassed $100,000 on December 5 before sharply pulling back, dropping below $90,000 at one point. Data from Coinglass shows that the total liquidation volume in the cryptocurrency market reached $1.1 billion over the past 24 hours—the highest since December 2021—with $815 million in long positions and $280 million in short positions liquidated.
Rachel Lucas, analyst at BTC Markets, said this correction exhibited classic "leveraged liquidation" characteristics. Large market players first pushed the price above $100,000 to attract retail investors, then rapidly reversed, triggering stop-loss orders and liquidations.
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