"Why did Bitcoin stop its rise?"

After Donald Trump's victory in the American presidential elections, the Bitcoin rally, which started at $75,000, paused at the level of $99,320. The correction in the market caused a liquidation of $500.45 million, mostly consisting of long positions, while the price of Bitcoin fell to $96,256.

Why is the Bitcoin Price Falling?

The cryptocurrency market was shaken by a massive wave of liquidations as of November 24 at 21:30. The total liquidation amount reached $500.45 million. Long positions accounted for the largest share of these liquidations, totaling $380 million.

A liquidation of $70.4 million occurred specifically for Bitcoin. Ethereum (ETH) and Dogecoin (DOGE) were also affected with liquidations of $43.4 million and $35.3 million, respectively.

This volatility in the market began with the end of the upward trend that started with Trump's election victory. The price of Bitcoin rose from $75,000 on November 6 to $99,320 on November 22.

According to Coinglass data, a total of 197,551 investors had their positions liquidated. Bitcoin lost 1.4% of its value in the last 24 hours and maintained a market capitalization of $1.9 trillion with a trading volume of $48.9 billion.