Today, the cryptocurrency market was rocked by a sudden wave of volatility, with Bitcoin briefly falling below $106,000 and triggering a mass liquidation.
According to the data, Bitcoin (BTC) price fell below $106,000 before recovering to trade at $106,376. The daily rate of decline has reached 3.74%, and the weekly rate of decline has reached 7.5%.
Graph showing the decline in BTC price.
This sharp decline triggered a massive liquidation cycle in futures trading. A total of $1.13 billion worth of positions were liquidated in the past 24 hours. Of this amount, $1.05 billion came from long positions and only $79.8 million came from short positions.
The largest proportion of liquidations were from Bitcoin investors.
- BTC: $189.84 million
- ETH: $116.3 million
- Left: $96.23 million
- XRP: $15.59 million
It was reported that $610.8 million worth of positions were liquidated in the past hour, of which $595.7 million was from long trades.
A chart showing cryptocurrency market liquidations over the past hour.
Panic selling affected not only Bitcoin but also major altcoins.
- Ethereum (ETH) is trading around $3,625, down 6.22%.
- Solana (SOL) fell 8.53% to $169.
- BNB fell 8.46% to $991.
- XRP fell 5.95% to $2.36.
*This is not investment advice.
