Bitcoin crashed again, $1.52 billion in crypto assets were liquidated

source:cryptoslate

Compile:Blockchainknight

As BTC experienced another flash crash, the Crypto asset market has experienced a series of liquidations in the past 24 hours, with a total liquidation amount of US$1.52 billion.

According to CoinglaXiaobai NavigationAccording to ss data, bulls account for the vast majority.The entire market liquidated $1.39 billion, while short liquidations accounted for $137 million.

This marks the second week of wild market volatility, with all crypto assets other than BTC taking the biggest hit.

In the past hour alone, more than $759 million in liquidations occurred, highlighting the speed and scale of the sell-off.

According to CryptoSlate,BTC price drops sharply to intraday low of $94,129, and then partially recovered. As of now, the trading price is around $97,000.

BTC’s sudden drop triggered $83.99 million in position liquidations in the past four hours, with long traders accounting for the majority.

Liquidations of leveraged positions added further downward pressure, exacerbating losses across the market..

Ethereum bore the brunt of the impact, with $134.5 million wiped out in the last four hours alone.

The asset’s price dropped to $3,510, a sharp decline from recent highs, and has only recovered to $3,700 levels as of now.

Dogecoin also saw a large amount of liquidation, with $51.55 million in funds being liquidated as the token struggled to stay above key support levels and fell to an intraday low of $0.38. As of now, the token has recovered to $0.422.

The tokens with the biggest losses include SOL and XRPThe former cleared out US$33.61 million and the latter cleared out US$33.78 million.

The two tokens fell to $203 and $2.01 respectively, and as of now, buyers have stepped in to push them back up to $220 and $2.26.

ADA also faces huge pressure and falls below the key psychological price level, to $0.91. As of now, it is still hovering around $1.

Overleveraged positions, weak sentiment and a flood of stop-loss orders combined to drive the rapid sell-off.

Binance has the largest liquidation volume, the total liquidation in the past four hours reached US$417.65 million.

OKX followed with $224.76 million, while Bybit saw $207.16 million in positions liquidated.

The most significant single liquidation event occurred on Binance’s ETHUSDT trading pair, totaling $19.69 million.

Despite the massive liquidations and wild volatility, the Crypto Asset Fear and Greed Index remains in the extreme greed zone at 78.

The article comes from the Internet:Bitcoin crashed again, $1.52 billion in crypto assets were liquidated

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