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Bitcoin Crashes Below $30K For The First Time Since January 2021

Bitcoin's price crashed below $30,000. We haven't seen these levels since January 2021.
George Georgiev

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Things in the cryptocurrency market are looking increasingly bad as the price for bitcoin just crashed below $30,000.

  • Bitcoin’s price is currently trading below $30,000.
  • This hasn’t happened in months as the last time we saw these levels was in January 2021.
btcusd-jun22-min
BTC/USD. Source: TradingView
  • Other cryptocurrencies are also following suit with most of the altcoins charting double-digit declines on the weekly.
  • This has also led to almost $800 million worth of liquidated positions across the major exchanges over the past 24 hours.
  • The largest single liquidation order happened on Bybit. It was a Bitcoin position with a face value of $5.4 million.
  • Not surprisingly, the majority of liquidations came from long positions. In the past hour alone, around 94% of the longs were wiped off.
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Bitcoin Bitcoin (BTC) Price
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About the author

George Georgiev
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Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over 8 years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping.