Global mkt sell-off pulls Bitcoin below $100K

Mumbai: Bitcoin prices fell sharply, briefly dipping below the $100,000 mark amid heavy selling in the spot market.The fall came as part of a broader global sell-off in risk assets, with investors increasingly worried about overvalued markets and fading risk appetite.

The world’s largest cryptocurrency dropped 3.7 per cent to trade at $101,822 after touching an intra-day low of $99,010.06, its weakest level since mid-June. Other major digital assets also traded lower, with Ethereum sliding 6.76 per cent to $3,331.65, Solana down 3.16 per cent at $157.66, XRP declining 3.16 per cent to $2.24, and Dogecoin slipping 1.47 per cent to $0.165.

Bitcoin has now officially entered bear market territory, falling more than 20 per cent from its record high of $126,186 reached in early October.According to data from analytics firm CoinGlass, more than $1.27 billion worth of leveraged crypto positions were liquidated earlier this week, most of them being long positions as traders betting on further price gains faced steep losses.