{"id":9324,"date":"2025-01-23T15:46:57","date_gmt":"2025-01-23T15:46:57","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=9324"},"modified":"2025-01-23T15:46:57","modified_gmt":"2025-01-23T15:46:57","slug":"btc-faces-massive-volatility-above-100k-as-liquidations-surge-to-300m","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=9324","title":{"rendered":"BTC Faces Massive Volatility Above $100K as Liquidations Surge to $300M"},"content":{"rendered":"
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Bitcoin\u2019s price actions were somewhat dull for most of the day, but the asset went on a wild rollercoaster in the past hour or so, pumping and dumping by several grand.<\/p>\n

This has caused a lot of pain for over-leveraged traders, with more than 120,000 such market participants getting wrecked in the past 24 hours.<\/p>\n

\"BTCUSD.<\/a>
BTCUSD. Source: TradingView<\/figcaption><\/figure>\n

As reported<\/a> earlier today, the primary cryptocurrency had started to lose traction following the Monday drop, subsequent all-time high, and yet another decline, and stood at $102,000. Its value decreased a bit more as the day progressed and slipped to $101,200.<\/p>\n

It recovered some ground to $102,000 but then exploded out of the blue to $106,000 within minutes. This somewhat surprising rally was met by a steep rejection that pushed it south to $102,500 before the bulls sent it to $104,000 as of now.<\/p>\n

Perhaps the most evident reason behind this substantial volatility is a cryptic couple of tweets by US Senator from Wyoming \u2013 Cynthia Lummis. The long-term BTC supporter, who has actively been pushing<\/a> for a Bitcoin reserve in the US, used the asset\u2019s logo to say, \u201c\u20bfig things are coming\u201d at 10 AM (probably EST).<\/p>\n

Although that time has passed and there\u2019s no big announcement yet, her comments were seen by almost 4 million people in an hour, which could explain the hype around BTC.<\/p>\n

Fox Business\u2019 Eleanor Terrett picked up the post and said that Lummis is likely to be voted in to become the chair of the digital asset subcommittee.<\/p>\n

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The Senate Banking Committee is set to vote at a 10AM EST markup on @SenLummis<\/a> becoming chair of the digital assets subcommittee.<\/p>\n

Unclear if anything else will be announced. https:\/\/t.co\/OfTE4WHd7I<\/a><\/p>\n

\u2014 Eleanor Terrett (@EleanorTerrett) January 23, 2025<\/a><\/p>\n<\/blockquote>\n