Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
The liquidations on a daily scale are on the rise once again after the recent market stagnation as BTC, and most altcoins turned red.
Ethereum erased all of its recent gains, dipping below $1,500 briefly, while BTC saw a multi-week low.
- Yesterday was a predominantly positive day for the crypto market, especially for the altcoins, many of which registered impressive gains.
- Perhaps fueled by the Bellatrix upgrade β the last step before the long-anticipated Merge β Ethereum soared by double-digits to a multi-day high of over $1,650. Ethereum Classic was another massive gainer, surging past $40.
- Hours after those increases, though, the market sentiment changed. BTC was rejected at $20,000 and plummeted by approximately $1,500 to its lowest price position since late July of $18,500.
- Ethereum failed to capitalize on the momentum and dumped to just under $1,500. ETC, among a few other lower- and mid-cap alts declined by double-digits.
- This enhanced volatility resulted in mass pain for some over-leveraged traders as the number of liquidated ones on a 24-hour scale is now just shy of 100,000.
- The total value of wrecked positions is up to $360 billion, with the single-largest one taking place on OKX involving the BTC/USDT trading pair.
The post Over $350M in Liquidations Daily as Bitcoin Dumped Below $19K appeared first on CryptoPotato.
Publication date
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.