Liquidations reach more than $1.25 billion after Bitcoin price drops to $21,000
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Answer Liquidations reach more than $1.25 billion after Bitcoin price drops to $21,000
The cryptocurrency market decline continues with no signs of stopping and the recovery starting yet.
Bitcoin price dropped below $21,000, leaving behind around $1.25 billion in total liquidations over the past 24 hours.
The bloodbath continues in the cryptocurrency market, and it does not appear to be showing any signs of slowing down.
At the time of writing this article, Bitcoin is trading between $21,800 and $22,000, down 15% on the day.
The drop contributed to massive liquidations over the past 24 hours across the market, according to data fromCoinglass“.
The bulk of the liquidations come from bitcoin, with the value of liquidated bitcoin positions exceeding $600 million.Read:The number of Ethereum coins deposited in the Ethereum 2.0 “staking” contract reaches a new record!
Ethereum is in second place with just under $480 million at the time of writing.
The price of Ethereum also fell below $1.1 thousand for a brief period but managed to recover to where it is currently trading at just under $1,200.
The largest single liquidation took place on the BitMEX platform where the liquidated position was an XBTUSD perpetual contract worth over $4.4 million.
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