Bitcoin Suddenly Crashes Under $118K as Liquidations Surge Toward $1B
Main Idea
Bitcoin experienced significant volatility, reaching a new all-time high before sharply declining, with other major cryptocurrencies also seeing losses and substantial liquidations occurring.
Key Points
1. Bitcoin surged to a new all-time high above $124,500 but later dropped sharply to below $118,000.
2. Other cryptocurrencies like ETH, XRP, SOL, DOGE, and ADA also declined by 2-3% in the past hour.
3. Daily liquidations exceeded $930 million, with nearly $460 million occurring in the past few hours.
4. Over 207,000 traders were liquidated in the past day according to CoinGlass data.
Description
Bitcoin’s price took an unexpected turn for the worse minutes ago as it dumped from over $121,000 to under $118,000. The altcoins have it even worse, with more painful declines that have harmed over-leveraged traders, as the total value of wrecked positions surges toward $1 billion. BTCUSD. Source: TradingView It has been quite the day for the primary cryptocurrency. Recall that just hours ago, the asset flew to a new all-time high, surpassing $124,500 for the first time ever. However, it droppe...
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