{"id":26441,"date":"2023-12-11T03:14:25","date_gmt":"2023-12-11T03:14:25","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoin-wipes-nearly-a-week-of-gains-in-20-minutes-falling-under-41k\/"},"modified":"2023-12-11T03:14:27","modified_gmt":"2023-12-11T03:14:27","slug":"bitcoin-wipes-nearly-a-week-of-gains-in-20-minutes-falling-under-41k","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoin-wipes-nearly-a-week-of-gains-in-20-minutes-falling-under-41k\/","title":{"rendered":"Bitcoin wipes nearly a week of gains in 20 minutes, falling under $41K"},"content":{"rendered":"<div data-v-8081b7b6=\"\">\n<p>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).\u00a0<\/p>\n<p>At the time of publication, Bitcoin was trading slightly up from the local low at $41,960 per TradingView data.\u00a0<\/p>\n<figure><\/figure>\n<p>According to data from CoinGlass the brief drop caused more than $271 million worth of long positions to be liquidated.\u00a0<\/p>\n<p>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.\u00a0<\/p>\n<p>Bitcoin had just closed its 8th green weekly candle, according to an X post from Wolf of All Street&#8217;s Scott Melker, who questioned when a correction was coming, seemingly minutes before it took place.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> just closed it&#8217;s 8th green weekly candle in a row.<\/p>\n<p>This week&#8217;s candle was a monster.<\/p>\n<p>When correction, sir? <a rel=\"nofollow\" href=\"https:\/\/t.co\/xxWjTxxLLr\">pic.twitter.com\/xxWjTxxLLr<\/a><\/p>\n<p>\u2014 The Wolf Of All Streets (@scottmelker) <a rel=\"nofollow\" href=\"https:\/\/twitter.com\/scottmelker\/status\/1734016667418554548?ref_src=twsrc%5Etfw\">December 11, 2023<\/a><\/p><\/blockquote>\n<p class=\"post-content__disclaimer\">This is a developing story, and further information will be added as it becomes available.\n<\/p>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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).\u00a0 At the time of publication, Bitcoin was trading slightly up from the local low at $41,960 per TradingView data.\u00a0 According to data from CoinGlass [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":26442,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-26441","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin wipes nearly a week of gains in 20 minutes, falling under $41K | NFT &amp; 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