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Bitcoin crash and big losses of money in
accounts.
🤔 What is happening to the price of BTC?
The bitcoin price briefly dipped below the $66,000 mark tonight.
One of the likely reasons for the drop was a noticeable net outflow from spot ETFs, totaling $85 million.
The speed of the correction was due to large liquidations that reduced funding rates to almost zero.BTC traders lost a combined total of about $138 million. Market participants, who opened positions on Ethereum (ETH), also suffered significant losses - a sharp decline in the rate of the second most capitalized cryptocurrency cost them $92.6 million.More than 90% of liquidations were distributed between OKX, Bybit, Binance and Huobi. The largest order was executed by OKX - the exchange closed the ETHUSD position for $7.48 million. The total amount of liquidations in the last 24 hours exceeded $500 million. At the time of writing, the price of BTC has recovered slightly - the asset is trading around $66,400.
