Bitcoin’s Dramatic Drop Causes Crypto Asset Liquidation Worth Millions: An In-Depth Analysis

Last 24 hours witnessed a massive liquidation of crypto assets worth millions as Bitcoin (BTC) plummeted from its 2023 peak. According to the leading cryptocurrency data analytics firm Coinglass, $140 million worth of digital assets were liquidated as Bitcoin withdrew from the $31,000 price level. At the time of writing, Bitcoin is trading at $30,305, a slight increase within the day, yet a 3.8% decline from 2023’s peak of $31,479. Bitcoin Liquidation! The data reveals that derivative contracts worth approximately $48 million, mostly long positions, were issued from the world’s largest crypto exchange platform, Binance. The Seychelles-based crypto exchange OKX saw long and short positions worth just over $46 million liquidated, while Bybit and Huobi experienced liquidations of $25 million and $8 million, respectively. In addition, the crypto analytics firm identified that digital assets with the most liquidated contracts in the past 24 hours included the king cryptocurrency, Ethereum (ETH), […] The post Bitcoin’s Dramatic Drop Causes Crypto Asset Liquidation Worth Millions: An In-Depth Analysis appeared first on COINTURK NEWS.