The price of Bitcoin hit a nearly two-month low this morning (4). In the past 24 hours, more than 100,000 people were liquidated across the entire network, and the amount of liquidation reached US$263 million.
Bitcoin price continues to fall
At around 18:00 yesterday afternoon, the price of Bitcoin (BTC) fell sharply to $59,570. Although it rebounded to over $60,000, it fell again at around 5:00 a.m. today, with the lowest price at $59,375. As of 10 a.m. today, the price of Bitcoin further dropped to $57,800, hitting its lowest level in nearly two months.
The total amount of liquidation in the entire network in 24 hours reached 263 million US dollars
According to Coinglass data, in the past 24 hours, the total amount of liquidation in the entire network reached 263 million US dollars, and more than 100,000 people were affected. Among them, the amount of long orders liquidated was 233 million US dollars, and the amount of short orders liquidated was 29.9 million US dollars. The largest liquidation occurred in the ETH/USD trading pair of OKX, with a value of up to 4 million US dollars.
In the past 24 hours, the entire network has liquidated $263 million
The community is crying: Let’s trade cryptocurrencies together in the next life…
Faced with such a dramatic market, the crypto community is wailing. Some say the crypto market is about to "go to the grave", and many classic jokes about the recent decline have resurfaced in the cryptocurrency community:
The U.S. stock market lives in fear of rising every day, while the A-shares are fighting spirits in the face of falling every day and laugh at the false bubble of the U.S. stock market.
We are different. We experience more than a dozen emotions every day. Sometimes we are happy like a fool, and sometimes we want to jump off the building because of the loss. We are still shouting "the big one is coming, the big one is coming". We live too tired. We stay up late every day after trading in cryptocurrencies. Our bodies are broken and our money is gone.
At this point, the people I feel most sorry for are my family.
Crypto KOL He Bi even posted a joke on the X platform saying "Let's trade cryptocurrencies together in the next life."
Analysis of Bitcoin's future trend
Crypto analyst Ali said on the X platform that although $280 million of long positions were liquidated and $25.4 million of short positions were liquidated in the past 24 hours, the liquidation amount this time was relatively small compared to the large-scale liquidation events of more than $1 billion in history. Ali believes that the decline of Bitcoin may not be over yet. The dynamic zone also reminded cryptocurrency investors that for the sake of physical and mental health, the notice of the exchange may need to be closed in the near future.
