Nearly $400 Million Liquidated After BTC Price Drops Below $20,000

Nearly $400 Million Liquidated After BTC Price Drops Below $20,000

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Answer Nearly $400 Million Liquidated After BTC Price Drops Below $20,000

Despite the rally over the past two weeks, the major cryptocurrency experienced a sudden and rapid decline today.

Bitcoin is down almost 5%, falling below the $20,000 mark.

The 24 hour liquidation total was approximately $360 million.

The recent rise in the price of Bitcoin brought many hopes that the crypto winter is coming to an end, but this did not happen.

Today, the market has turned red, with the majority of cryptocurrencies posting significant declines.

This resulted in the liquidation of approximately $400 million from both long and short positions.

The original cryptocurrency price of the FTX trading platform has been performing poorly.

Read:FTX Cryptocurrency Exchange Expands To Stock Trading…Details Here

At the time of writing this article, the price of the digital currency FTT is down by about 21%.

This comes as a result of Binance’s pledge to liquidate its FTT holdings and sparking an argument between “CZ” and “Sam Bankman Fred”.

Bitcoin also took a big hit, falling below $20,000 for the first time in two weeks.

Altcoins are no better, as Ethereum and XRP are down about 6%.

The situation is even worse when looking at meme coins.

Dogecoin has lost more than 12% of its value, while SHIB has fallen by 8%.

As of the time of writing this article, reached The global cryptocurrency market capitalization is around $982.7 billion, which is a 5% drop in the last 24 hours.

Read:Explain how to obtain a bank card that supports digital currencies within the Arab world

Read also:

The digital currency LINK reaches a record level for the first time in 3 months…Details here

US Department of Justice seizes over 50,000 bitcoins linked to “Silk Road” store

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