While Bitcoin (BTC) Price Dropped to $ 51,000, Liquidation of $ 10 Billion Was Experienced!
The leading cryptocurrency Bitcoin (BTC) is trading at $ 56,000 as of the time of this writing. Even though Bitcoin lost almost $ 8,000 from its peak, it could actually be much better compared to the midnight price.
BTC Price Pulled to $ 51,000
The leading cryptocurrency has experienced an incredibly drastic and unexpected decline in the last 24 hours, falling to $ 51,000 on the Binance cryptocurrency exchange. Such a sharp drop in the BTC price has also disrupted the cryptocurrency industry, and almost every altcoin has declined by 10% to 20%. This resulted in a record amount of liquidation.
According to the data transferred by Bybt, there was a liquidation of $ 9.84 billion in just 24 hours, and most of these were, as can be predicted, Bitcoin-based positions. In the 24-hour chart, the Bitcoin long / short position of $ 5.12 billion was liquidated. Ethereum comes in the second place, while XRP is seen to be withdrawn up to $ 1.30 in the third place.
Liquidation Data of Crypto Money Exchanges
Among the crypto money exchanges, Binance leads this decline with a liquidation of $ 4.7 billion. The stock exchange with the most liquidations is seen as Huobi after Binance . BitMEX, which was once at the top of liquidations, is in the 6th place.
Nevertheless, the record-breaking amount of liquidation on Binance , especially for individual investors, and the fact that 92% of them consists of long positions, reveals the FOMO that individual investors are captured. Exceptionally, it is seen that among all exchanges, short position liquidations are predominant, especially on Deribit.