The cryptocurrency market continues to decline as Bitcoin’s price dipped below $57K, while Ethereum reached as low as $3,950 on Binance. This left around $120 million liquidated in just an hour.
- The bitcoin price is now down 5% in the past 24 hours and 12% in the past week as it dipped below $57K moments ago.
- This is the lowest BTC has been trading at since October 28th.
- In the meantime, Ethereum’s price also took a beating as it dipped below $4K and reached $3,950. The cryptocurrency is down 5.1% in a day and 13.5% in a week.
- Data from Bybt shows that this latest dump led to about $120 million worth of liquidated positions in the past hour, about 40% of which came from BTC alone.
- The total amount of liquidations for the day is $431 million.
- The largest single liquidation order took place on Bitmex – it was a BTC/USD position with a face value of $7.2 million.
- 80% of the liquidations in the last hour were of long positions, where the leading exchange in terms of it is Binance, followed by FTX and Bybit.
LIMITED OFFER 2024 for CryptoPotato readers at Bybit: Use this link to register and open a $500 BTC-USDT position on Bybit Exchange for free!