Crypto liquidations crossed half a billion dollars over the past 24 hours as bitcoin pulls away from $100,000.

Total cryptocurrency liquidations reached $500.45 million across 197,551 traders, according to the crypto liquidations tracker Coinglass as of 2:30 p.m. ET (19:30 UTC) on Nov. 24. Long and short liquidations comprised roughly $380 million and $120 million respectively.

Bitcoin comprised $70.4 million of the total crypto liquidations in the past day, followed by ethereum and dogecoin at $43.4 million and $35.3 million.

Earlier this week, bitcoin reached $99,320 on Nov. 22, threatening to break $100,000 for the first time ever. The token's price steadily rose after Republican Donald Trump won the United States presidential election on Nov. 6, 2024, when its price was about $75,000.

Bitcoin maintains a $96,256 price point as of 2:30 p.m. ET (19:30 UTC) on Nov. 24 after falling 1.4% in the past day, according to The Block's Bitcoin Price Page. Bitcoin brought in $48.9 billion in trading volume in the 24 hours, and maintains a market capitalization of $1.9 trillion.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

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