Bitcoin can’t catch a break in the past several days, marking consecutive multi-month lows, with the latest coming minutes ago at well under $67,000.
The last time the cryptocurrency traded at such low levels was in early November, just as the US presidential elections took place and the country elected the so-called ‘crypto president,’ Donald Trump.
The past few weeks have been brutal for BTC. It challenged $90,000 just eight days ago, last Wednesday, but the rejection at that level brought unimaginable pain for the market leader and most of the altcoin followers.
Bitcoin first dumped to $81,000 last Thursday, then continued south to under $75,000 during the weekend, but the bears kept the pressure on. The past several hours have been violent as well, with BTC plunging to $66,900 (as of press time). This means that the asset has lost well over $20,000 in just over a week.
The altcoins have not been spared. ETH continues with its massive decline, with another 9% daily decline to under $2,000 – its lowest level since last April. BNB has plunged by 10% to $660, while XRP is down by a whopping 15% in the past 24 hours alone to $1.32.
Further losses are evident from the likes of ZEC (-19%), MORPHO (-14%), NEXO (-14%), XMR (-12%), LEO (-12%), SUI (-11%), and many others. As such, it’s no wonder that over-leveraged traders have been harmed severely.
Data from CoinGlass shows that the 24-hour liquidations have rocketed to over $1.3 billion. In the past hour alone, the wrecked positions are up to $350 million. The number of wiped out traders is close to 300,000 daily, with the single-largest position taking place on Aster, which was worth over $11 million.
The post Liquidations Top $1.3 Billion as BTC Plummets Below $67K, ETH Loses $2K Support appeared first on CryptoPotato.
Most other altcoins like BNB and XRP have joined the ride south with massive declines of their own. AA News, Crypto News, Bitcoin (BTC) Price
This articles is written by : Nermeen Nabil Khear Abdelmalak
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