Bitcoin Drops Below $101K as $700M in Liquidations Rock the Crypto Market - 12-05-2025

Bitcoin is trading at $101,645, down 2.79% over the past 24 hours, while Ethereum holds at $2,432 after a 2.9% daily decline. The downturn coincides with a wave of liquidations in the cryptocurrency derivatives market. Over the past day, a total of $699.71 million in leveraged positions were wiped out, with long traders accounting for $484.85 million in losses, while short positions made up $214.86 million.

Bitcoin traders were hit the hardest, suffering losses of $80.02 million, followed by Ethereum traders who saw $45.49 million liquidated. Other tokens contributed an additional $31.53 million to the total. The largest individual liquidation took place on the BTC/USD pair at Bybit, totaling $11 million.

On the hourly candlestick chart, Bitcoin displays a sharp sell-off from a local high of $105,706 down to an intraday low of $100,764, before making a slight recovery. The chart shows intensified selling pressure, with red volume bars dominating recent sessions. This pullback comes after a relatively stable period, indicating that the resistance near the $105,000 level remains a significant barrier.