Crypto Traders Liquidated for $1.13 Billion After Massive Bitcoin Price Swings
The cryptocurrency market just recently experienced a substantial shockwave, with $1.13 billion in trader liquidations.
This occasion followed huge Bitcoin (BTC) cost swings, highlighting the unstable nature of the crypto sector.
Bitcoin Crashes 14% After Tapping ATH
On Tuesday, Bitcoin, the flagship crypto property, moved above its previous all-time high, briefly reaching over $69,000. This peak followed a prolonged 847-day wait, showcasing the marketplace's bullish momentum. This uptrend did not last.
Consequently, a wave of offering pressure emerged on crypto exchanges. This pressure considerably reversed Bitcoin's gains, triggering its rate to drop listed below $60,000 at one point.
Bitcoin's rate skyrocketed to $69,208. It then fell dramatically, dropping over $1,000 in a minute. T...