Bitcoin 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…

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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.