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interest rate cut expectations for next year.Bitcoin's (BTC) attempt to bounce back above $100,000 quickly faded earlier during the day and slid to the low-$97,000s during the U.S.
day.
It modestly recovered to around $98,000 before another leg lower brought prices below $96,000, down 4.8% over the past 24 hours.Altcoins fared much worse, with the broad-market CoinDesk 20 Index diving more than 10% during the same period.
Ethereum's ether (ETH) dipped 10.8% to below $3,500, while Cardano's ADA, Chainlink's LINK, Aptos' APT, Avalanche's AVAX and Dogecoin's DOGE all suffered 15%-20% losses.
Notably, SOL sank to its weakest price since Nov.
7 — nearly erasing its post-election rally following a 26% plunge from itsrecord highhit less than a month ago.Over the past 24 hours — roughly since yesterday's rate decision by Fed policy makers — nearly $1.2 billion worth of leveraged crypto derivatives trading positions have been liquidated across all assets,CoinGlass datashows.
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