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Home»BLOCKCHAIN NEWS»The BTC price drop caused traders to liquidate more than $166 million.
BLOCKCHAIN NEWS

The BTC price drop caused traders to liquidate more than $166 million.

By Crypto FlexsDecember 26, 20231 Min Read
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The BTC price drop caused traders to liquidate more than 6 million.
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From December 25 to 26, the liquidation volume of the cryptocurrency market exceeded $166 million.

According to CoinGlass, altcoins account for a significant portion of the losses. As of this writing, daily liquidation volume is $166.2 million, with long positions prevailing.

Source: Coinglass

In addition to the traditional Bitcoin (BTC) and Ethereum (ETH), trading pairs with Solana (SOL) and ORDI are leading in terms of loss volume.

BTC Price Drop Causes Traders to Liquidate Over $166 Million - 2
Source: Coinglass

The most significant liquidations occurred on the Binance, OKX and Bybit exchanges. Like the market, more than 60% of these positions are primarily long positions.

The falling BTC exchange rate led to a series of liquidations. The cryptocurrency fell 2% to $42,750.

BTC Price Drop Causes Traders to Liquidate Over $166 Million - 3
Source: CoinMarketCap

In 2023, Bitcoin surpassed global stock markets and almost all other asset classes, including gold, in its growth dynamics.

BTC growth this year is 163% in 2023.

With interest rates falling imminent, US regulatory pressure easing, and the US Securities and Exchange Commission (SEC) expected to approve a Bitcoin ETF, analysts expect cryptocurrency assets to continue growing in 2024. .

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