You did not hear wrong! Exactly 250 Billion Dollars No More!

The decline in the cryptocurrency market, which took a clearer view on April 30, became visibly sharper on the first day of May. Due to this price movement, it was revealed that investors taking long positions lost approximately 400 million dollars in leveraged transactions in the last 24 hours.

In particular, depending on the recent price movement, 137,016 cryptocurrency investors lost $464.54 million in long and short positions. In addition, it was understood that only $64.67 million of the loss occurred due to short sales, while the remaining $399.88 million came from bull traders who opened long transactions.

While $168.22 million of the losses occurred in the last four hours, $153.17 million of the losses resulted from the liquidations of the bulls. This data was provided by Coinglass.

Liquidations of $165.77 million and $120.76 million on the #Bitcoin (BTC) and #Ethereum (ETH) side dominated the 24-hour period. In particular, it was observed that investors investing in these two cryptocurrencies suffered losses of $145 million and $100 million, representing 61% of their long positions.

There was also a decrease in the $2.29 trillion capital held by Bitcoin and cryptocurrencies on April 30. This index dropped to 2.04 trillion dollars on May 1, and it was seen that there was a loss of 250 billion dollars (10.87%) in the entire ecosystem.

Daily losses in Bitcoin reached over 7.5% and created a big question mark on the first day of the month. As of writing time, BTC price is at $57,200. It was seen that investors' anxiety increased after the Bitcoin price lost the support level of $ 60,000. The price predictions made by analysts include price movements that may occur in the $ 54,000 and $ 50,000 regions before reaching the prices achieved in the past. On the other hand, opinions are increasing that the $ 54,000 estimate should be a psychological support and target.
$BTC $ETH $BNB