The latest increased volatility in the cryptocurrency market has caused significant pain for over-leveraged investors, with over $400 million in liquidations on a 24-hour scale. This happened when BTC fell by about $3,000 in one day.
- It’s safe to say that the cryptocurrency landscape has seen better days as nearly $400 billion has evaporated from the entire market cap in less than a week.
- As the words “crypto winter” and “bear market” keep swirling within the community, Bitcoin has only gotten worse since yesterday.
- The property had already lost the coveted $40,000 mark and dropped to $38,000 before a sudden and brief price pump took it north by a grand. However, this was short-lived, and BTC fell once again – this time to just over $36,000, which became the new lowest price point since February 3.
- Altcoins are bleeding even more. Double digit drop in price is evident from Ripple, Cardano, Avalanche, Dogecoin, Solana, Shiba Inu, Matic, CRO and many more.
- Ethereum and Binance are among the few whose price drop is still only single digits, but still both are in the deep red.
- Somewhat expected, this increased volatility has caused the number of liquidated and liquidated traders to skyrocket.
- Coinglass data from over 120,000 liquidated traders shows $400 million worth of liquidations since yesterday. The largest order took place on OKEx and was worth just $4 million.
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