Crypto Crash: Bitcoin Drops Below $100K, $850M Liquidated

Cryptocurrency Market Update: Bitcoin, Ethereum, Solana, BNB, and TRUMP Coin Experience Declines – September 2023

Bitcoin, Ethereum, Solana, BNB, and TRUMP Coin have all experienced declines in the cryptocurrency market, with Bitcoin dropping below the $100,000 mark. The market has seen a significant pullback, with over $850 million in crypto positions eliminated, indicating heightened trader uncertainty. The impact spans across sectors such as AI agents and memecoins, with Fartcoin and Virtuals Protocol falling by 23% and 21% respectively, and memecoins such as Pepe and SPX6900 both dropping by 16%.

Bitcoin has fallen below $100,000 amidst a market downturn causing $850 million in liquidations; the impact spans across AI and memecoin sectors. Market Pullback Triggers Significant Liquidations Across Key Cryptocurrencies

Bitcoin’s recent decline below $100,000 marks a crucial turning point for the cryptocurrency market. As of now, Bitcoin is trading at approximately $99,100, reflecting a 5.7% decrease over the past 24 hours. Similarly, other major cryptocurrencies have not escaped unscathed; Ether has dipped below $3,100 to $3,065, a decline of 8.2%, while Solana’s SOL token has plummeted 10% to around $230. This downturn has led to a wave of liquidations, primarily affecting long positions.

Arthur Hayes, co-founder of BitMEX, shared a more pessimistic view, suggesting that Bitcoin could fall as low as $70,000 to $75,000 due to what he described as a “mini financial crisis.” Despite this short-term outlook, Hayes also expressed optimism for a substantial rebound later in the year, predicting Bitcoin could surge to $250,000 if monetary easing policies are reinstated. This dynamic demonstrates the conflicting sentiments within the cryptocurrency community.

New Developments in Regulatory Landscape Under Trump Administration

In light of the current market volatility, the newly elected Trump administration is taking proactive steps to engage