Over 79,000 traders liquidated Bitcoin in the last 24 hours

TL;DR Breakdown 

  • Over $237 million worth of Bitcoin has been liquidated in the last 24 hours. 
  • BTC prices have dipped below $40,000 as a result of the high USD index. 
  • BTC average transaction fees record the lowest figures in 2 years. 

Another overnight bear market has seen a massive liquidation of Bitcoin around the industry. According to Coin Glass insights, over $237 million worth of Bitcoin was liquidated in the last 24 hours. This liquidation accounted for 79,710 traders selling their Bitcoin assets, as the leading crypto dips below $40,000. 

BTC holders were accepting a short-term bull run from the leading crypto after the Terra foundation recently announced the purchase of $10 billion worth of Bitcoin to support its flagship stablecoin UST. The programmable stablecoin recently flipped BUSD to become the third stablecoin with the highest market capitalization.