Credit: Original article published by CryptoPotato.

The cryptocurrency market is well-known for its intense price fluctuations, and the past 24 hours provided more proof. With BTC and most altcoins charting double-digit moves in both directions, this resulted in $1.74 billion liquidated on exchanges.

  • The primary cryptocurrency had just painted a new all-time high (at the time) of about $57,600 before a vigorous correction drove the asset down to a low of $54,000 in a matter of minutes yesterday. 
BTCUSD. Source: TradingView
  • As it typically happens when BTC initiates a sharp move south, most of the altcoin market followed with even more substantial losses. Ethereum plummeted by 12% from $2,040 all the way down to $1,800. XRP slumped by 18%, BNB by 23%, and so forth. 
  • Shortly after, though, all these coins bounced off and reclaimed most of the lost value. Some, such as Bitcoin, went even further and painted yet another all-time high just shy of $57,900.
  • These high fluctuations led to massive losses for some investors. According to data from Bybt, the total liquidations across crypto exchanges equal $1.74 billion in the past 24 hours. On a 12 hour scale, the amount is north of $900 million.
  • While the total number of liquidated traders is north of 215,000, the largest single one of a whopping $24 million occurred on the leading crypto exchange Binance and involved its native cryptocurrency – BNB.

This article is strictly for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, business or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any loss or damage caused or alleged to be caused by, or in connection with, the use of or reliance on any content, goods, services or opinions mentioned in this article.

#Bitcoin #Crypto #Cryptocurrency



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