The cryptocurrency market was rocked by a sudden wave of volatility today, with Bitcoin briefly falling below $106,000, triggering massive liquidations.
Bitcoin (BTC) price has recovered to trade at $106,376 after falling below $106,000, according to data. The daily loss has reached 3.74%, while the weekly decline is at 7.5%.
BTC fiyatında yaşanan düşüşü gösteren grafik.
This sharp decline triggered a massive liquidation cycle in futures trading. A total of $1.13 billion worth of positions were liquidated in the last 24 hours. Of this, $1.05 billion came from long positions, while only $79.8 million came from short positions.
The largest share of liquidations belonged to Bitcoin investors:
BTC: $189.84 million
ETH: $116.30 million
LEFT: $96.23 million
XRP: $15.59 million
It was reported that $610.8 million worth of positions were liquidated in the last hour, $595.7 million of which originated from long trades.
Chart showing the liquidations in the cryptocurrency market in the last hour.
Panic selling affected not only Bitcoin but also leading altcoins.
Ethereum (ETH) is trading around $3,625, down 6.22%.
Solana (SOL) fell 8.53% to $169.
BNB is down 8.46% at $991.
XRP is down 5.95% at $2.36.
*This is not investment advice.