Over $1 Billion in Liquidations as Bitcoin Crashed $4,000 in Hours

The liquidations jumped above $1 billion across all crypto exchanges as BTC and the rest of the market plunged hard.

The enhanced volatility in the cryptocurrency market continues to cause pain to leveraged traders with over $1 billion in liquidations in the past 24 hours. The latest price slump came after consecutive days of sideways trading for bitcoin and most of the altcoins.

 

  • The crypto market is well-known for its high fluctuation levels with double-digit price movements in either direction. Interestingly, the past several days were just the opposite as bitcoin stood somewhat stagnant in a range between $35,500 and $37,000.
  • However, the primary cryptocurrency is not used to stay still for too long, and the bears took advantage in the past 24 hours.
  • BTC traded just shy of $37,000 before it suddenly dumped by $3,000. While that was a substantial drop of its own, the situation worsened minutes later, and bitcoin lost another $1,500 of value.
  • As it typically happens when BTC makes a move, the alternative coins followed suit with even more vigorous losses.

cryptopotato.com

 

Over $1 Billion in Liquidations as Bitcoin Crashed $4,000 in Hours
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