Last night, the price of Bitcoin fell below the 100,000 $ mark and this drop was not without consequences as it led to the liquidation of 463 million dollars in positions across the market. A look back at the numbers from a night that cost traders with leverage dearly.
⚪️ Bitcoin triggers 463 million dollars in liquidations…
Every day, thousands of traders take positions in the cryptocurrency market. Among them, some decide to use leverage to increase their potential gains, but this is not without risk.
During the night from Thursday to Friday, the price of Bitcoin fell below the 100,000 $ mark, and this decline therefore led to the liquidation of 463 million dollars in positions in the crypto market, according to data from Coinglass.
Unsurprisingly, it is Bitcoin that has been the most impacted with 137 million dollars in liquidations, followed by Ethereum with 85 million dollars in liquidations.
On the platform side, it is Binance that recorded the most liquidations with 172 million dollars.
⚪️ a crypto market in the red
Obviously, Bitcoin is not the only cryptocurrency affected by this decline, and many other tokens have also recorded decreases over the last 24 hours.
Among the largest projects, we can note a decrease of 3% for Ethereum and 4% for Solana. On the memecoins side, Shiba Inu recorded a decrease of 7% and Dogecoin of 5%.
In parallel, the BTC ETF market also recorded a decrease. The exchange-traded products on the first cryptocurrency in the market thus recorded net outflows of 869 million dollars, making it the second worst day in their young history.
To all crypto enthusiasts in general and Bitcoin enthusiasts in particular, know that it is not just your portfolio that is targeted by this drop, but it concerns all high-risk assets. The macroeconomic data is not very good, and uncertainty reigns in the United States, which are not even able to produce the expected data on inflation and employment. Everything is in the red, and Bitcoin is simply following the trend.
