{"id":603007,"date":"2024-04-13T08:30:46","date_gmt":"2024-04-13T08:30:46","guid":{"rendered":"https:\/\/uniquehot.com\/?p=603007"},"modified":"2024-06-11T08:59:18","modified_gmt":"2024-06-11T08:59:18","slug":"bitcoin-altcoins-price-decline-as-crypto-liquidations-near-900-million-in-the-past-day","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-altcoins-price-decline-as-crypto-liquidations-near-900-million-in-the-past-day\/","title":{"rendered":"Bitcoin, Altcoins Price Decline As Crypto Liquidations Near $900 Million In The Past Day"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The crypto market took an unexpected hit on April 12 as a spontaneous decline in the price of Bitcoin and prominent altcoins resulted in massive liquidations. The origin of this widespread price dip remains largely unknown, among a plethora of plausible reasons, including a recent price correction in the US stock markets.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-halving-price-100000\/\" target=\"_blank\" rel=\"noopener \">Will The Halving Send Bitcoin Price To $100,000? Analytics Platform Reveals What You Should Expect<\/a><\/div>\n<h2><span style=\"font-weight: 400\">Almost $500 Million Liquidated In An Hour Amidst Crypto Flash Crash<\/span><\/h2>\n<p><span style=\"font-weight: 400\">According to <a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\" target=\"_blank\" rel=\"noopener nofollow\">data from CoinMarketCap<\/a>, Bitcoin slipped by 4.49% in the last day, falling as low as $66,052. As expected, BTC\u2019s decline reverberated through the market, with prominent altcoins Ethereum and Solana recording daily losses to the tune of 8.12% and 12.16%, respectively<\/span><\/p>\n<p><span style=\"font-weight: 400\">As earlier stated, these losses translated into 277,843 traders losing their leverage positions as total crypto liquidations reached $877.21 million in the last 24 hours based on <a href=\"https:\/\/www.coinglass.com\/LiquidationData\" target=\"_blank\" rel=\"noopener nofollow\">data from Coinglass.<\/a> Of these figures, long positions accounted for $782.98 million, with short traders losing only $94.24 million.<\/span><\/p>\n<p style=\"text-align: left\"><span style=\"font-weight: 400\">Notably, $467 million in leverage positions were closed within an hour as a result of a general price decline. The highest amount of liquidations at $369.85 million was recorded on Binance, while the single largest liquidation order valued at $7.19 million occurred in the ETH-USD market on the OKX exchange.<\/span><\/p>\n<pre style=\"text-align: center\"><span style=\"font-weight: 400\">\r\n<img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-603008\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/Screenshot-35.png?w=860&#038;resize=860%2C523\" alt=\"Bitcoin\" width=\"860\" height=\"523\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/Screenshot-35.png?w=1022 1022w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/Screenshot-35.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/Screenshot-35.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/Screenshot-35.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/Screenshot-35.png?w=750 750w\" sizes=\"(max-width: 860px) 100vw, 860px\">\r\nSource: <a href=\"https:\/\/www.coinglass.com\/LiquidationData\" target=\"_blank\" rel=\"noopener nofollow\">Coinglass<\/a><\/span><\/pre>\n<p><span style=\"font-weight: 400\">Interestingly, Bitcoin\u2019s price decline correlated with a dip in the US stock market as the S&amp;P 500 index declined by 1.6% to trade as low as $5,108. This market crash was preceded by <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-tumbles-hot-cpi-data-analyst-ultra-bullish\/\" target=\"_blank\" rel=\"noopener \">recent CPI data<\/a>, which showed that the inflation rate rose to 3.5% year over year in March.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Such reports only indicate that the US Federal Reserve (Fed) could not be implementing any rate cuts soon as it aims to force inflation down to its annual target of 2%. This prediction is quite bearish for the crypto market generally as Fed rate cuts allow investors to comfortably seek risky assets such as BTC with a potential of high yields.<br \/>\n<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/traders-forecast-massive-rally-for-altcoins-but-why-is-sentiment-down\/\" target=\"_blank\" rel=\"noopener \">Traders Forecast Massive Rally For Altcoins, But Why Is Sentiment \u201cDown\u201d?<\/a><\/div>\n<h2><span style=\"font-weight: 400\">Bitcoin Experiences Network Growth As Halving Approaches\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400\">On a more positive note, Bitcoin has recorded a rise in non-empty wallets on its network ahead of the Halving event on April 19. Blockchain analytics platform Santiment <a href=\"https:\/\/x.com\/santimentfeed\/status\/53736053\" target=\"_blank\" rel=\"noopener nofollow\">reported<\/a> an increase of 370,000 BTC wallets holding active coins over the last six days. Interestingly, the analytic team is backing investors to maintain this accumulative trend all through the<a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-halving-roadmap-analyst-outlines-3-phases-for-market-dynamics\/\" target=\"_blank\" rel=\"noopener \"> Bitcoin halving event<\/a>.<\/span><\/p>\n<p style=\"text-align: left\"><span style=\"font-weight: 400\">At the time of writing, Bitcoin was trading at $66,882, with a 44.80% increase in its daily trading volume, which is currently valued at $43.80 billion. However, Bitcoin\u2019s price has generally been unimpressive in recent times, with a decline of 1.33% and 6.20% in the last seven and 30 days, respectively.\u00a0<\/span><\/p>\n<pre style=\"text-align: center\"><span style=\"font-weight: 400\">\r\n<img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large\" src=\"https:\/\/www.tradingview.com\/x\/JClWQI1L\/\" alt=\"Bitcoin\" width=\"1479\" height=\"893\">Bitcoin trading at $66,499.00 on the daily chart | Source:<a href=\"https:\/\/www.tradingview.com\/chart\/xg17RJqK\/?symbol=PYTH%3ASPY\" target=\"_blank\" rel=\"noopener nofollow\"> BTCUSDT chart on Tradingview.com<\/a>\r\n<\/span><\/pre>\n<p style=\"text-align: left\"><em>Featured image from The Independent, chart from Tradingview<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The crypto market took an unexpected hit on April 12 as a spontaneous decline in the price of Bitcoin and prominent altcoins resulted in massive liquidations. The origin of this widespread price dip remains largely unknown, among a plethora of plausible reasons, including a recent price correction in the US stock markets. Related Reading: Will The Halving Send Bitcoin Price To $100,000? Analytics Platform Reveals What You Should Expect Almost $500 Million Liquidated In An Hour Amidst Crypto Flash Crash According to data from CoinMarketCap, Bitcoin slipped by 4.49% in the last day, falling as low as $66,052. As expected, BTC\u2019s decline reverberated through the market, with prominent altcoins Ethereum and Solana recording daily losses to the tune of 8.12% and 12.16%, respectively As earlier stated, these losses translated into 277,843 traders losing their leverage positions as total crypto liquidations reached $877.21 million in the last 24 hours based on data from Coinglass. Of these figures, long positions accounted for $782.98 million, with short traders losing only $94.24 million. Notably, $467 million in leverage positions were closed within an hour as a result of a general price decline. The highest amount of liquidations at $369.85 million was recorded on Binance, while the single largest liquidation order valued at $7.19 million occurred in the ETH-USD market on the OKX exchange. Source: Coinglass Interestingly, Bitcoin\u2019s price decline correlated with a dip in the US stock market as the S&amp;P 500 index declined by 1.6% to trade as low as $5,108. This market crash was preceded by recent CPI data, which showed that the inflation rate rose to 3.5% year over year in March. Such reports only indicate that the US Federal Reserve (Fed) could not be implementing any rate cuts soon as it aims to force inflation down to its annual target of 2%. This prediction is quite bearish for the crypto market generally as Fed rate cuts allow investors to comfortably seek risky assets such as BTC with a potential of high yields. Related Reading: Traders Forecast Massive Rally For Altcoins, But Why Is Sentiment \u201cDown\u201d? Bitcoin Experiences Network Growth As Halving Approaches\u00a0 On a more positive note, Bitcoin has recorded a rise in non-empty wallets on its network ahead of the Halving event on April 19. Blockchain analytics platform Santiment reported an increase of 370,000 BTC wallets holding active coins over the last six days. Interestingly, the analytic team is backing investors to maintain this accumulative trend all through the Bitcoin halving event. At the time of writing, Bitcoin was trading at $66,882, with a 44.80% increase in its daily trading volume, which is currently valued at $43.80 billion. However, Bitcoin\u2019s price has generally been unimpressive in recent times, with a decline of 1.33% and 6.20% in the last seven and 30 days, respectively.\u00a0 Bitcoin trading at $66,499.00 on the daily chart | Source: BTCUSDT chart on Tradingview.com Featured image from The Independent, chart from Tradingview<\/p>\n","protected":false},"author":581,"featured_media":603009,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,8856,1144,78790,85578,92078,86150,92079],"class_list":["post-603007","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-halving","tag-btcusd","tag-btcusdt","tag-crypto-liquidations","tag-leverage-trading","tag-long-traders","tag-network-growth"],"acf":[],"yoast_head":"\n<title>Bitcoin, Altcoins Price Decline As Crypto 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Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative. Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information. Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets. Outside his work, Semilore possesses other passions like all individuals. 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Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative. Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information. Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets. Outside his work, Semilore possesses other passions like all individuals. 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