🚨 Bitcoin Slips Below $59K: Crypto Market Sees $132M in Liquidations 💥
🌐 The crypto market faced a turbulent day as Bitcoin dipped below the $59,000 mark, triggering a wave of liquidations across the board. With increased selling pressure, traders witnessed a major shakeout in the derivatives market, leading to significant losses. 📉
🔍 Key Highlights:
- Bitcoin Dips: BTC slipped to an intraday low of $58,315, after peaking at $61,868 earlier in the day. This marks a 3.8% drop over 24 hours, adding up to a 13.9% loss over the past two weeks. 💸
- Market Decline: The broader crypto market declined by 3.18%, bringing its total value down to $2.06 trillion, despite a 7.53% increase in global trading volume. 📊
- Massive Liquidations: According to Coinglass.com, a staggering 54,744 traders faced liquidations totaling $132.49 million by 5:15 p.m. EDT. Of this, $102.33 million were from long positions, with Bitcoin trades accounting for $25.95 million in losses. 💥
💔 Ethereum and Solana Hit Hard:
- Ethereum (ETH): ETH dropped to $2,540 after reaching $2,720 earlier, with long positions suffering $22.84 million in losses.
- Solana (SOL): SOL wasn't spared either, with long liquidations amounting to $8.37 million on Sunday. 😔
🔥 The largest single wipeout occurred on OKX, where an Ethereum trade resulted in a $2.17 million loss.
As prices across the crypto market remained volatile and selling pressure mounted, the impact on traders was significant. What are your thoughts on the recent crypto market downturn? Share your opinions in the comments below! 💬
