Posted 12/11/2023, 3:22:30 AM
Bitcoin Suddenly Drops Over 6%, Wiping Out a Week of Gains After Hitting 8-Week High
- Bitcoin price suddenly dropped 6.5% to under $41K on Dec. 11, wiping out nearly a week of gains
- The drop came just minutes after a tweet noting Bitcoin's 8th straight weekly gain
- Ether, Binance Coin, Ripple, and Solana also posted significant losses
- Over $270 million in BTC long positions were liquidated due to the brief drop
- The decline was Bitcoin's largest single-day drop in over a month, despite being up over 150% since January