Crypto Market Crash: Bitcoin & Ethereum Liquidations Surge to $400 Million as BTC Breaches $47k
The cryptocurrency market experienced a dramatic overnight correction, triggering massive liquidations across Bitcoin, Ethereum, and other altcoins. Futures positions liquidations soared to $400 million as Bitcoin briefly crossed $47,000 and Ethereum approached $3,300.
Bitcoin's Brief Rally to $47,000 Precedes Major Liquidation Event
Bitcoin's price shot up above $47,000 this morning – a price level unseen since January 2nd. However, this bullish surge proved unsustainable, leading to a significant market pullback and widespread liquidations.
Ethereum Liquidations Hit Hard Between $2,700 and $2,850
Ethereum (ETH) saw a significant cluster of liquidations occurring between $2,700 and $2,850. These liquidations contributed substantially to the overall market turmoil, with peak liquidation levels exceeding $400 million across the entire crypto space.
$452 Million Liquidated in 24 Hours: Bitcoin, Ethereum, XRP Lead Sell-Off
Per data from CoinGlass, the combined crypto market liquidation has topped $452 million in 24 hours. Notably, 160,022 traders were implicated in the liquidation. The price drop has triggered massive liquidations, with Bitcoin, Ethereum, and XRP leading the sell-off. In the past 24 hours, over 109,704 traders have faced liquidation.
Altcoins Feel the Pressure: Solana, XRP, and Other Major Coins See Declines
The market correction extended beyond Bitcoin and Ethereum. Meanwhile, Solana is down by nearly 5% at $160, XRP has fallen 3.3% to $2.20, and Ethereum is off by 3% at a current price of $2.573. Bitcoin's daily dip of 1.3% is less severe compared to some altcoins.
Real-Time Data and Liquidation Heatmaps Available
Stay informed with real-time data for Bitcoin liquidations and exchange liquidations. Access historical data and charts for liquidations and liquidation heatmaps to gain comprehensive market insights and understand market dynamics.
The bulk of liquidations were concentrated as traders scrambled to adjust their positions in response to the sudden price movements. Last night, the crypto market experienced a heavy price correction, resulting in futures positions liquidations worth 400 million dollars.