NewsletterBitcoin Volatility Leads Liquidation To Breach $190 Million Mark
Bitcoin News: The global digital asset market printed red indexes on Thursday after registering a relief rally over the announcement of lower CPI data. Bitcoin (BTC), the world’s largest crypto saw major volatility as its price went on to dip below the $27k level after trading above $28.2K.
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Bitcoin Price Dip Below $27K
As per the data, Bitcoin price is down by more than 7% over the past 7 days. However, BTC price registered a marginal decline over the past day. Bitcoin price trading at $28,200 on Wednesday went on to drop below the $27k level to stand at $26,992.
However, the Bitcoin price saw a slight recovery to regain the crucial $27K. Bitcoin is trading at an average price of $27,414, at the press time. It’s 24 hour trading volume is up by 57% to stand at around $21 billion. Bitcoin dominance currently stands at 46.89% which is a decrease of 0.07% over the past 24 hours. Read More Bitcoin News Here…
Also Read: Why Didn’t Ripple Register XRP With US SEC? Brad Garlinghouse Replies
According to the Coinglass data, due to an increase in volatility, more than 50K traders were liquated in the last 24 hours. The total liquidations breached the $190 million mark. While the single liquidation order happened on Bitmex XBTUSD valued at $10 million. However, 64% of the liquidation came out to be Long positions.
Bitcoin traders’ liquidation registered to be around $86.48 million. However, $56.54 million worth of long positions (65%) were liquidated amid the recent volatile price movement.
The cumulative digital asset market cap stands at around $1.13 trillion. Its 24 hour trading volume is up by 52% to stand at $46.68 billion.
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