The cryptocurrency market was rocked by a sudden wave of volatility today, with Bitcoin briefly falling below $106,000, triggering massive liquidations.
Bitcoin (BTC) price has recovered to trade at $106,376 after falling below $106,000, according to data. The daily loss has reached 3.74%, while the weekly decline is at 7.5%.
This sharp decline triggered a massive liquidation cycle in futures trading. A total of $1.13 billion worth of positions were liquidated in the last 24 hours. Of this, $1.05 billion came from long positions, while only $79.8 million came from short positions.
The largest share of liquidations belonged to Bitcoin investors:
- BTC: $189.84 million
- ETH: $116.30 million
- LEFT: $96.23 million
- XRP: $15.59 million
It was reported that $610.8 million worth of positions were liquidated in the last hour, $595.7 million of which originated from long trades.
Panic selling affected not only Bitcoin but also leading altcoins.
- Ethereum (ETH) is trading around $3,625, down 6.22%.
- Solana (SOL) fell 8.53% to $169.
- BNB is down 8.46% at $991.
- XRP is down 5.95% at $2.36.
*This is not investment advice.