Bitcoin's price dipped to its lowest point since September 2021 as Wall Street also opened in the red today.
It’s been another day with blood on the streets in the cryptocurrency market, but also in traditional finance. Bitcoin’s price dipped below $40K, leaving over $295 million worth of liquidations in the past 24 hours alone.
Things took a turn for the worst during Monday’s trading session as Bitcoin’s price dipped below $40K for the first time since September 2021.
At the time of this writing, the price hovers around $40,500, down 3.5% in the past 24 hours and 16.3% in the past week.
With this in mind, the lowest the price went during this dip is $39,558.
Source: TradingView
Data shows that the total liquidations cross the entire cryptocurrency market in the past 24 hours amount to about $296 million.
The largest single liquidation order took place on BitMEX and had a face value of $5.95 million.
In general, 79% of the liquidations are of long positions, and 35% of them took place on OKEx, followed by 33.4% on Binance.
It’s also interesting to note that Wall Street also opened in the red today. The S&P 500 is currently trading 1.3% below Friday’s closing price. The FTSE 100 is down 0.18%, whereas the Nasdaq Composite is down 1.72%.
Georgi Georgiev is CryptoPotato's editor-in-chief and seasoned writer with over four 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. Contact George: LinkedIn
