Bitcoin Receives Heavy Blow, Another 1.7 Billion Dollars Wiped Out from the Market - Coin Bulletin

In the past 24 hours, liquidations exceeding 1.7 billion dollars have occurred in the cryptocurrency market. The price of Bitcoin retreated from the 100,000 dollar level and dropped to 93,000 dollars.

According to Coinglass data, approximately 583,369 investors experienced liquidation. These liquidations consisted of $1.57 billion from long positions and $185.07 million from short positions. Liquidations of $189.5 million and $248.8 million were recorded in Bitcoin and Ethereum, respectively.

This situation came after the liquidations of 1.1 billion dollars, which was the largest liquidation since December 2021, which occurred on December 5th.

The cryptocurrency market can be very volatile

Bitcoin, driven by weeks of rally following the election of US President Donald Trump as the 47th President on December 4, surpassed $100,000 for the first time, reaching an all-time high of $103,680.

However, strategic moves by large investors and profit realizations rapidly drove the price down and caused significant liquidations in the market.

These fluctuations once again highlight the volatile nature of the cryptocurrency market. It is important for investors, especially when engaging in leveraged trading, to closely monitor market movements and pay attention to risk management.