Traders had a scorching start to the week as they crossed the $500 million mark has was liquidated from the cryptocurrency market in the last 24 hours. This was due to the price of Bitcoin, which has continued to fluctuate greatly recently.

$500 Million Liquidation Due to Bitcoin Price Fluctuations

Coin data shows that over $500 million has been liquidated from the cryptocurrency market in the last 24 hours due to Bitcoin price fluctuations. Long investors suffered the biggest losses, with more than $366 million long positions liquidated. Meanwhile, over $129 million in tiny positions were liquidated in the last 24 hours.

This came as Bitcoin’s price dropped significantly from around $98,000 to as low as $95,500 on Sunday. Bitcoin has since recovered and crossed $98,000 again. These enormous BTC price swings have occurred since the flagship cryptocurrency was close to reaching its highs $100,000 milestone November 23.

Since then, Bitcoin’s price has experienced a major decline followed by a piercing rebound, leading to mass liquidations as investors struggle to determine the future trajectory of the flagship cryptocurrency. These declines come as investors look to protect profits as they see the flagship cryptocurrency approaching the psychological price level of $100,000.

However, some whales remain unchanged, just like last time bought BTC worth $3.96 billion in 96 hours. Specifically, a Bitcoin miner Digital marathon purchased 5,771 BTC ($572 million) at an average price of 95,554 per BTC.

While this Bitcoin price range may be a local high, the flagship cryptocurrency is still expected to move higher, which explains why these whales continue to actively accumulate more BTC. Asset manager VanEck stated recently that $100,000 is just the beginning and predicted that Bitcoin could still reach as high as $180,000.

Today could be the day

Cryptocurrency analyst Ali Martinez recently predicted that today could be the day when Bitcoin’s price finally reaches the long-awaited $100,000 milestone. This came after he revealed that the SuperTrend indicator turned bullish on Bitcoin’s hourly chart as prices broke through the resistance trendline and Relative Strength Index (RSI).

In another post on X, Martinez suggested that $100,000 will not be the highest price for Bitcoin this year. this running of the bulls. He stated that long-term Bitcoin holders are showing signs of increasing greed. The analyst said that historically, this suggests it could take 8-11 months for Bitcoin to reach a market peak.

If this historical trend continues, Bitcoin’s price could peak between June and September 2025. Cryptocurrency analysts such as The capital of Recht they also predicted that this period could mark the peak for Bitcoin in this bull market.

At the time of writing, Bitcoin is trading at around $98,300, having risen over the past 24 hours, according to data from CoinMarketCap.

Featured image created with Dall.E, chart from Tradingview.com