Bitcoin Sees Over $140 Million in Liquidations Amid Crypto Market Downturn and Price Dip Below $116,000
Main Idea
The crypto market experienced a significant downturn, with Bitcoin dropping below $116,000 and over $140 million in liquidations, affecting more than 213,000 traders amid high volatility.
Key Points
1. Bitcoin (BTC) fell 2.63% to $115,356, triggering $140.06 million in liquidations, following a recent all-time high of $123,100 on July 14.
2. Ether (ETH) dropped 1.33% to $3,598, causing $104.76 million in long liquidations, while Dogecoin (DOGE) fell 7% to $0.22, wiping out $26 million in long positions.
3. A total of 213,729 trader accounts were liquidated during the market downturn, highlighting the risks of leveraged positions.
4. The Crypto Fear & Greed Index maintained a 'Greed' score of 70, suggesting some investors still see buying opportunities despite the downturn.
5. Market volatility underscores the need for disciplined risk management and continuous education for traders navigating crypto markets.
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