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More than $200 million liquidated after Bitcoin failed to cross the $32,000 level

More than $200 million liquidated after Bitcoin failed to cross the $32,000 level

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Answer More than $200 million liquidated after Bitcoin failed to cross the $32,000 level

Bitcoin price failed to break above $32,000 level.

Bitcoin failure dragged most altcoins down.

What made the crypto market suffer a new correction.

As a result, mass liquidations occurred and the number of liquidated traders increased significantly.

Yesterday was a very positive day for the cryptocurrency market, as Bitcoin topped the scene and managed to rally to nearly $32,000.

Altcoins have seen some notable increases as well, led by Solana and Cardano.

But as has happened several times in the past several weeks, the Bitcoin hack has turned out to be a fake.

Read:One of the Most Famous US Telecom Companies Starts Accepting Bitcoin (BTC)

Instead of heading north, bitcoin fell by nearly $3,000 in hours and fell all the way to $29,000.

Altcoins are not in a better position, as Solana, Binance Coin, ADA, AVAX, and many others have lost double-digit ratios in the last 24 hours.

Overall, the cumulative market capitalization of all cryptocurrencies has fallen by $90 billion per day and is now estimated to be just over $1.2 trillion.

Data from Coinglass shows that this huge volatility has led to nearly 80,000 traders liquidating their positions in the past 24 hours.

Read:Learn about Binance’s position on the controversy surrounding the upcoming Ethereum fork and the possibility of supporting ETHPoW?

The total value of the broken positions is over $200 million.

Read also:

Bitcoin Price Returns to Below $30K…Here’s Why a $24K Crash Could Possibly

Study: 37% of survey respondents want their government to certify Bitcoin


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