Coinspeaker
Bitcoin’s Price Drop to $64,000 Leads to $210 Million Liquidations in One Day
The crypto market has once again been rattled by volatility as Bitcoin (BTC) price slipped to $64,000, marking a downturn following its rebound from the recent geopolitical tensions in the Middle East.
Despite maintaining a strong position above $66,000 for several days and briefly flirting with the $67,000 mark post-halving on April 20, 2024, Bitcoin faced resistance, leading to a subsequent decline. According to CoinGlass data, this downturn has brought increased pressure on bullish investors and over-leveraged traders with long positions, as daily liquidations surged to over $210 million.
BTC Drop Leads to Massive Liquidations
Over the past 24 hours, approximately 91,704 leveraged positions have liquidated in the crypto market. Long traders took the hardest hit with $178 million liquidated across several layer-1 blockchains, including Ethereum (Ether) and Solana (SOL).
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