Bitcoin plummeted nearly five percent on Sunday, reaching eighty-six thousand, nine hundred fifty dollars, triggering over five hundred thirty-nine million dollars in liquidations. This marked Bitcoins worst November performance since two thousand eighteen. Despite consolidating around ninety-one thousand, five hundred dollars earlier in the week, Bitcoins value sharply decreased in just three hours on Sunday. Large cryptocurrency movements often occur on Friday and Sunday nights, and this slump was attributed to a sudden rush of selling volume, leading to a domino effect and liquidation of large leveraged positions. Over one hundred eighty thousand traders were liquidated in the past twenty-four hours, with the majority being long positions in Bitcoin and Ethereum. Bitcoin ended November down seventeen point four nine percent, making it the worst November since two thousand eighteen. However, some analysts remain optimistic, viewing the current market activity as a necessary clearing of downside liquidity for future growth.
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