Bitcoin, Ethereum, Solana, Dogecoin and Other Coins Face Massive Liquidations as BTC Falls Below $58,000
As a crypto trader, you must be aware of the recent market turmoil that has led to significant liquidations across various digital assets following a sudden plunge in Bitcoin (BTC) below the $58,000 mark. The cascading effect of this drop has impacted altcoins as well, causing distress among leverage traders who have seen their positions liquidated.
Massive Liquidations Rock the Crypto Market
- Coinglass, a crypto data aggregator, reported over $448,490,000 in liquidations within the last 24 hours, with a majority of them stemming from leveraged long positions.
- Key exchanges like OKX, Binance, Huobi, and Bybit witnessed significant liquidations, totaling hundreds of millions of dollars.
- Bitcoin alone accounted for $167.43 million in liquidations, followed by Ethereum at $115.48 million, Solana at $17.01 million, and meme coins like Dogecoin and Pepe.
- The largest liquidation order, amounting to $6.07 million, took place on OKX in the ETH/USDT pair as per Coinglass data.
Impact on Major Cryptocurrencies
- Bitcoin saw a drastic drop from $61,335 to $56,757, marking a more than 6% decline in the past 24 hours, with a slight recovery to $57,429 at the time of writing.
- Solana dipped nearly 5% to $123, while Dogecoin and Pepe experienced losses of around 9% and 8.6% respectively.
Stay Informed and Subscribe
If you want to stay updated on the latest crypto news, market trends, and price actions, subscribing to reliable sources is crucial. By subscribing to reputable platforms, you can receive timely updates on market developments, enabling you to make informed trading decisions.
Hot Take: Protect Your Investments and Stay Informed
As a crypto enthusiast, it’s essential to stay vigilant during times of market volatility to safeguard your investments and navigate the turbulent waters of the crypto space successfully. By staying informed and monitoring market trends regularly, you can adapt your strategies accordingly and make informed decisions based on reliable information.
Sources:
1. Coinglass Liquidation Data
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