On Dec. 5, Bitcoin retreated further from the psychologically crucial $100,000 level, briefly dipping below $93,000 and triggering a significant amount of long position liquidations.
A sudden dip in the price of Bitcoin wiped out $300 million of long positions in the market as its price fell 5.47% within minutes on Dec. 5, briefly falling just below $93,000.
Between 6:23 UTC and 6:28 UTC, Bitcoin (BTC) dropped from $98,338 to $92,957.
It has since rebounded to $96,624 at the time of publication, according to TradingView data.
