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The price of Bitcoin suddenly dropped 6.5% to fall below $41,000 on Dec. 11, wiping out around five days of gains.
![Bitcoin wipes nearly a week of gains in 20 minutes, falling under $41K](https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=1434/https://s3.cointelegraph.com/uploads/2023-12/6059f3a1-9b14-4262-9fec-2673c620bbc3.jpg)
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The price of Bitcoin (BTC) briefly fell below $41,000 following a sudden 6.5% drawdown from $43,357 to as low as $40,659 in just 20 minutes at 2:15am on Dec. 11 (UTC).
At the time of publication, Bitcoin was trading slightly up from the local low at $41,960 per TradingView data.
According to data from CoinGlass the brief drop caused more than $271 million worth of long positions to be liquidated.
Ether (ETH), the second-largest cryptocurrency by market cap, also witnessed an abrupt decline, falling more than 8.9% in the same time frame. The price of ETH has since stabilized and is trading for $2,233, down 5.3% on the day.
Bitcoin had just closed its 8th green weekly candle, according to an X post from Wolf of All Street's Scott Melker, who questioned when a correction was coming, seemingly minutes before it took place.
#Bitcoin just closed it's 8th green weekly candle in a row.
This week's candle was a monster.
When correction, sir? pic.twitter.com/xxWjTxxLLr
This is a developing story, and further information will be added as it becomes available.
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https://cointelegraph.com/news/bitcoin-btc-price-crash-falls-below-42k-hour-weekly-gains-wiped
Opine sobre isso.
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