Bitcoin Price Crashes Toward $58K as Liquidations Surpass $250 Million
Bitcoin’s price tumbled below $60K today, rendering the entire move up toward $63K from earlier – a bull trap.
At the time of this writing, BTC trades at around $58.8K but it reached a low of about $57,800 earlier.
Source: TradingView
This puts Bitcoin on a decline of 3.7% for the past 24 hours and 3.6% for the past week. Most of the altcoins are also deep in red.
Ethereum lost 4.4%, Solana – 9.3%, BNB – 5.4% – all in the last day.
This is the reason the total liquidations are also ramping up. At the time of this writing, data from Coinglass reveals that there were $262M, $233M of which are long positions.
As CryptoPotato reported, meme coins also plummeted. Shiba Inu (SHIB) fell by some 6% on the day, putting its weekly loss to 8%. Other meme coins are also down. WIF dropped by 10%, FLOKI – by 11%, MEW – by 13%, POPCAT – by 17%, and so forth.
The post Bitcoin Price Crashes Toward $58K as Liquidations Surpass $250 Million appeared first on CryptoPotato.
Welcome to Billionaire Club Co LLC, your gateway to a brand-new social media experience! Sign up today and dive into over 10,000 fresh daily articles and videos curated just for your enjoyment. Enjoy the ad free experience, unlimited content interactions, and get that coveted blue check verification—all for just $1 a month!
Account Frozen
Your account is frozen. You can still view content but cannot interact with it.
Please go to your settings to update your account status.
Open Profile Settings