Altcoins plunge as bitcoin's $85,000 test triggers $550 million in liquidations

The altcoin market experienced a significant decline as Bitcoin approached a pivotal price point of $85,000, leading to a wave of liquidations that collectively surpassed $550 million. Investors and traders reacted swiftly to the volatile movements in Bitcoin's value, which not only impacted its price but also had a cascading effect on a variety of alternative cryptocurrencies (altcoins). As a result, many traders were caught off-guard, and their positions were forcefully closed in an effort to minimize potential losses, contributing to the overall downturn in altcoin prices. source: https://www.coindesk.com/markets/2025/12/18/altcoins-plunge-as-bitcoin-s-usd85k-test-triggers-usd550m-in-liquidations