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BTC Rejected Off $64,000 As Crypto Market Suffers $600 Million Of Liquidations

Summary:
The price of Bitcoin (BTC) experienced massive volatility on Wednesday, soaring to nearly ,000 before sinking again to ,500 within one hour. Amid the chaos, crypto traders have experienced 8 million in liquidation over the past 24 hours, including 1 million of liquidations in the past 4 hours alone. According to Coinglass, about million of liquidations in the last hour impacted a consortium of little-known altcoins, while million was liquidated on BTC trades directly. Meanwhile, ETH traders suffered million of liquidations, and DOGE traders lost million. In the past 24 hours, a massive 168,988 traders were liquidated. The largest single liquidation occurred on OKX on a BTC-USDT trade for .45 million. The price of BTC is ,400 at writing

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The price of Bitcoin (BTC) experienced massive volatility on Wednesday, soaring to nearly $64,000 before sinking again to $60,500 within one hour.

Amid the chaos, crypto traders have experienced $638 million in liquidation over the past 24 hours, including $391 million of liquidations in the past 4 hours alone.

  • According to Coinglass, about $55 million of liquidations in the last hour impacted a consortium of little-known altcoins, while $96 million was liquidated on BTC trades directly.
  • Meanwhile, ETH traders suffered $45 million of liquidations, and DOGE traders lost $29 million.
  • In the past 24 hours, a massive 168,988 traders were liquidated. The largest single liquidation occurred on OKX on a BTC-USDT trade for $9.45 million.
  • The price of BTC is $61,400 at writing time, up 21% within the past five days alone.
  • Many credit the asset’s recent surge to the launch of several bitcoin ETFs last month.
  • BlackRock’s Bitcoin ETF – the largest of all newcomers – now holds over $8 billion in BTC, and absorbed a record $520 million of flows on Tuesday.
Bitcoin / USD. Source: TradingView

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