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Crypto News

$185 Million in Liquidations as Bitcoin Falls Under $20K

Bitcoin is once again back below $20,000 after briefly surging above the price level last week. 

  • The primary cryptocurrency traded at roughly $20,200 at 17:30 UST on Wednesday, before quickly declining to about $19,600 an hour later. It trades for $19,957 at the time of writing, unable to break back above $20k.
  • According to CoinGlass, about $51 million have been wiped from the crypto markets in liquidations over the past 4 hours, adding to $185 million over the past 24 hours. 
  • This still doesn’t compete with last week’s liquidation numbers, when $350 million evaporated as Bitcoin descended under $19K. 
  • Meanwhile, Ethereum appears to be clinging to the $1600 mark. Its market cap is currently over half that of BItcoin’s. 
  • Over the past day, the largest single liquidation happened on Binance, for an ETH-USDT trade worth $4.25 million. 
Bitcoin/ USD. Source: TradingView
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