Bitcoin is once again back below $20,000 after briefly surging above the price level last week.
- The primary cryptocurrency traded at roughly $20,200 at 17:30 UST on Wednesday, before quickly declining to about $19,600 an hour later. It trades for $19,957 at the time of writing, unable to break back above $20k.
- According to CoinGlass, about $51 million have been wiped from the crypto markets in liquidations over the past 4 hours, adding to $185 million over the past 24 hours.
- This still doesn’t compete with last week’s liquidation numbers, when $350 million evaporated as Bitcoin descended under $19K.
- Meanwhile, Ethereum appears to be clinging to the $1600 mark. Its market cap is currently over half that of BItcoin’s.
- Over the past day, the largest single liquidation happened on Binance, for an ETH-USDT trade worth $4.25 million.