Bitcoin dropped below the $100,000 mark on Thursday afternoon, triggering over $117 million in long liquidations within a single hour. The sudden decline marked one of the largest hourly liquidation events in recent weeks as the crypto market underwent a sharp correction.

Liquidations were concentrated across major futures exchanges, where traders holding bullish positions were forced out as price levels rapidly declined. The automated sell-offs targeted highly leveraged accounts that failed to meet margin requirements during the plunge.

The event reflects a broader pattern of increased volatility and leveraged exposure in crypto markets. As macroeconomic uncertainty persists, traders are facing repeated waves of forced liquidations amid sharp price reversals.