In the last 24 hours, 400 million USD in Bitcoin has been liquidated

Over-leveraged investors are experiencing enormous losses, with 24-hour liquidations topping $400 million due to the bitcoin market’s recent increased volatility. This comes after a $3,000 drop-in BTC over the day. Furthermore, the crypto market capitalization has decreased by more than $140 billion from yesterday’s peak.

The market cap of Bitcoin has down by $400 million

The bitcoin industry isn’t in the best of health. Almost $400 billion of the overall market worth has vanished in little than a week. Bitcoin’s situation has worsened even more since yesterday, with the phrases “crypto winter” and “bear market” remaining common in the community.

The ongoing crisis between Russia and Ukraine has harmed bitcoin financial markets. The most recent intelligence from that side said that Russia had sent soldiers into two rebel-held districts in eastern Ukraine after recognizing them as independent republics.

The United States and the European Union have continued to threaten President Putin and his government with punitive sanctions, but these threats appear to have had little effect thus far.

A huge price increase pushed the asset to a new all-time high of $40,000. Bitcoin briefly rebounded Wednesday, sliding $2,000 before coming to a rest at roughly $39,500. Then, it fell to roughly $37,500 before the bears drove it to a fresh three-week low of under $36,000 — the lowest price point since February 3rd.

As expected, the increased volatility has resulted in a significant rise in liquidations and the number of liquidated traders. Since yesterday, over 120,000 liquidated traders have liquidated valued at nearly $400 million, according to Coinglass statistics. The largest order on OKEx was little under $4 million.

Altcoins and stocks are bleeding away

Altcoins have plummeted even further. Many cryptocurrencies, including Ripple, Cardano, Avalanche, Dogecoin, Solana, Shiba Inu, MATIC, CRO, and others, have witnessed double-digit price decreases. The broader market is in disarray following a protracted bear market, and cryptocurrencies are no exception. For example, Ethereum has plunged to a new monthly low of about $2,500, following a larger 7 percent slump. The second-largest cryptocurrency is now worth over $3,200.

Binance Coin, on the other hand, has witnessed a corresponding drop and now sells for $360. Ripple (-13%), Cardano (-14%), Solana (-12.5%), Polkadot (-8.5%), Avalanche (-14.5%), Dogecoin (-9%), Shiba Inu (-11%), and many more cryptocurrencies have suffered even greater losses.

The scenario is comparable for lower- and mid-tier cryptocurrencies. As a result, the whole cryptocurrency market value has plunged by $140 billion in the previous seven days, with Bitcoin losing $400 billion in less than a week.

On Monday, the S&P 500 futures sank 1.5 percent, while the Nasdaq futures lost 2.2 percent. In addition, the Russian rouble momentarily struck an 18-month low versus the US dollar during Tuesday morning trade.

The Russian blue-chip stock market fell 10.5 percent on Monday, with the Moscow Exchange (MOEX) stocks index falling 10.5 percent on fears of a large-scale military invasion of Ukraine.

Following Putin’s speech on recognizing the ‘DNR’ and ‘LNR,’ the market fell further on Tuesday morning. According to economic sources, Russia’s largest decline in stocks since 2008.

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