Bitcoin Dip Triggers $151 Million Liquidations
Over the last 24 hours, more than 57,000 traders have been . This has led to a total of $151 million in assets liquidated over the last day. The most prominent of these has been the Ethereum liquidations.
Ethereum, which had taken the lead during the market recovery and rallied higher than $1,600, had led the short liquidations and now, continues to lead in terms of long liquidations. Ethereum liquidations alone have crossed $70 million in the last 24 hours and $20 million in the last 12 hours.
Related Reading | TA: Bitcoin Price At Clear Risk of Sharp Drop, Indicators Turn Red
Others include bitcoin, which has only seen half the volume of liquidations compared to Ethereum. In total, there have been more than $30 million in bitcoin liquidations in the past day, accounting for 1.38K BTC. This makes it the second-largest liquidation for a digital asset in the last day. The majority of liquidations have been from long traders at 63.96%.
BTC price falls below $22,000 | Source:
FOMC Looms Over Market
The recovery that had been rocking bitcoin and other cryptocurrencies has been stopped dead in its tracks as the week opened. There are various factors behind this decline such as large corporations announcing earnings and showing that they had dumped a lot of bitcoin.Related Reading | TA: Ethereum Stuck In Key Range, Why $1,480 Is The Key
Featured image from Finance Magnates, chart from TradingView.com
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