The recent decline of Bitcoin (BTC) has put 201 investors under liquidity pressure
A total of $501 million in liquidations occurred.
The cryptocurrency industry has seen volatility. The leading cryptocurrency, Bitcoin (BTC), has recently faced selling pressure again, causing some investors to feel a bit panicked. Although Bitcoin is affected, some altcoins continue to rise significantly.
Recently, Bitcoin reached a high of $99,588 but then entered a downward trend. During this decline, Bitcoin dropped nearly 4% from its peak and recently touched $95,734.
With the decline of Bitcoin (BTC), the liquidation rate has risen!
A total of $501 million worth of liquidations occurred in the digital currency industry.
Of this $501 million in liquidations, $388 million was used to establish long positions, while $112 million was used to establish short positions.
Due to volatile movements, these 201 investors were liquidated. The largest liquidation occurred in BTC, amounting to $69 million, followed by ETH, DOGE, and XRP.
It is expected that if the cryptocurrency industry continues to experience severe volatility in the coming hours, the liquidation rate will further increase.
Not investment advice