While Bitcoin (BTC) Price Dropped to $ 51,000, Liquidation of $ 10 Billion Was Experienced!

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 Ethereum comes in the second place, while XRP is seen to be withdrawn up to $ 1.30 in the third place.

Crypto Currency
Crypto Currency

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.

Samuel Hegi

Samuel Hegi , who first became acquainted with blockchain technology in 2014, is highly critical of blockchain technology. Samuel Hegi, a journalism graduate from the University of Brighton he is the editor-in-chief of the news portal. Blockchain is love.

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