Bitcoin (BTC) It lost $3000 in about 24 hours and continues to decline, recording a three-week low. This decline of Bitcoin also had a negative effect on the crypto money markets.
With volatility in the crypto market increasing, with liquidations exceeding $400 million on a 24-hour scale, over-leveraged investors have suffered serious losses. These liquidations came after BTC lost around $3,000 in just a single day.
While the rumors of “crypto winter” and “bear market” continue at full speed among the community, it would not be wrong to say that the situation is actually a bit depressing, with the liquidations exceeding $ 400 million.
Bitcoin price lost the eagerly anticipated $40,000 level and soon dropped below $38,000. The dip didn’t end here, either, with the price positioning just above $36,000, setting a new low since Feb.
on the other hand altcoins depreciates even more. Double-digit price drops are seen in Ripple (XRP), Cardano (ADA), Avalanche (AVAX), Dogecoin (DOGE), Solana (SOL) and many more. Ethereum (ETH) and Binance Coin (BNB) are among the few assets whose price drops are still in the single digits, but both are still bearish.
As might be expected, the increased volatility quickly fueled liquidations and the number of traders being liquidated.
Coinglass data shows over $400 million worth of liquidations from more than 120,000 traders since yesterday. The most significant single loss occurred on OKEx and was worth $4 million.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.