financetom
Cryptocurrency
financetom
/
Cryptocurrency
/
Almost $500M in Liquidations as Bitcoin (BTC) Dumped to $64K and Alts Bled Out
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Almost $500M in Liquidations as Bitcoin (BTC) Dumped to $64K and Alts Bled Out
Jun 17, 2024 10:50 PM

Bitcoin faced tons of volatility on Monday, especially during the night, and dumped to a new monthly low of $64,000.

The altcoins fluctuations were similar, with numerous massive declines, resulting in 190,000 traders getting wrecked on a daily scale.

The primary digital asset had a quiet weekend which it spent at around $66,000. Mondays start was also underwhelming but the cryptocurrency started gaining traction later on during the day.

It jumped to a local peak of just over $67,200 before the bears took complete control of the market and initiated a notable price drop.

In a matter of minutes, bitcoin slumped by over three grand and fell to its lowest position since May 15 of $64,000 (on Bitstamp). It has managed to bounce off in the following hours and now sits close to $66,000.

Bitcoin/Price/Chart 18.06.2024. Source: TradingView The altcoins performances were quite similar, with substantial price drops from many. Despite recovering some ground, SHIB and DOGE are still around 10% down on the day. SOL, AVAX, LINK, ADA, and DOT have plummeted by 7-9%.

ETH is down to $3,450 after dumping to $3,330 earlier today. More losses come from NEAR, UNI, MATIC, WIF, FIL, FET, and others.

This massive volatility has harmed over-leveraged traders, as more than 190,000 of them have been wrecked in the past day. The total value of liquidated positions sits above $480 million within the same timeframe.

The largest single liquidated order happened on Binance. It was worth $6.44 million and involved the ETH/USDC trading pair, according to CoinGlass.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Bitcoin Reached New ATH and Lack of FOMO Suggests $100K Is Next
Bitcoin Reached New ATH and Lack of FOMO Suggests $100K Is Next
Nov 20, 2024
After a week-long consolidation with a few corrections below $90,000, bitcoins bull run resumed yesterday, and the asset charted a fresh peak of just over $94,000. On-chain and social data indicated that the assets rally could be far from over, and the question arises of whether it has the legs to go to the coveted $100,000 level. BTCs ATH Driven...
Ripple Whales and Sharks Are Buying as Retail Are Selling: Is That Bullish for XRP?
Ripple Whales and Sharks Are Buying as Retail Are Selling: Is That Bullish for XRP?
Nov 20, 2024
Ripples native token emerged as the top performer in the past few weeks, surging from under $0.6 to a three-year peak of over $1.25. This means that the asset had finally awakened after Trumps victory in the elections and caught up to the rest of the market. According to data from Santiment, this massive rally, in which XRP more than...
Bullish Cardano Predictions as the ADA Price Hits Two
Bullish Cardano Predictions as the ADA Price Hits Two
Nov 20, 2024
TL;DR Cardano (ADA) has surged 120% in two weeks, crossing $0.80. Analysts predict further gains. Speculation about a Cardano/Ripple alliance has fueled excitement, though no official announcement has been made yet. ADA Keeps Pumping Some of the leading altcoins, including Solana (SOL), Binance Coin (BNB), Ripple (XRP), and more, have registered minor losses in the past 24 hours. However, this...
Supply Shock: Bitcoin ETFs Sucked up 9,000 BTC Daily While Only 450 Were Mined
Supply Shock: Bitcoin ETFs Sucked up 9,000 BTC Daily While Only 450 Were Mined
Nov 19, 2024
Just under a whopping 9,000 BTC was accumulated by spot Bitcoin ETFs in the United States on Tuesday, Nov. 19. This equates to around $814 million in total aggregate inflows across the eleven funds, according to Coinglass. Around 450 BTC are mined daily, which means that a huge supply shock is imminent if institutional funds continue to hoover up coins...
Copyright 2023-2026 - www.financetom.com All Rights Reserved