Crypto Market Shake Up! Bitcoin Drops Below $80K, Wiping Out 210,000 Traders!
TradingKey - Bitcoin's drop below $80,000 triggered a collective crash in the crypto market, resulting in over 210,000 traders being liquidated.
On Friday, Bitcoin's downward trend showed no signs of stopping, continuing its fall below $80,000. Over the past 24 hours, Bitcoin plummeted by more than 8%, hitting a low of $79,125.
Bitcoin Price Chart, Source: TradingView.
The sharp decline in Bitcoin's price severely impacted the crypto market, causing most virtual currencies to experience significant drops. DOGE and ADA fell by over 12%, ETH dropped by 11%, while XRP and SOL declined by more than 10%. BNB also saw an 8% decrease.
The collective crash led to massive liquidations. According to CoinGlass, over 210,000 traders were liquidated in the past 24 hours, with total losses exceeding over $800 million. Long positions accounted for a staggering 88% of the liquidations.
Crypto Market Liquidation Data, Source: CoinGlass.
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