Bitcoin tumbled below $77,000, causing losses of over $660 million in leveraged positions, primarily affecting bullish traders. XRP volatility and Dogecoin uptrend continue, while Toncoin's lifeline support may save it from a $2 drop.
A sudden Bitcoin plunge below $77,000 has wiped out over $660 million in leveraged positions, catching overwhelmingly bullish traders completely off guard.over the past 24 hours, according to data provided by CoinGecko.
This happened during BTC's plunge below the $77,000 level. Bullish traders attempting to catch the dip were caught off guard, with long positions taking a severe beating. XRP's Volatility Risks Exploding, Dogecoin Uptrend Continues, Will Toncoin's Lifeline Support Save $2: Crypto Market ReviewE-mini Nasdaq-100 futures are currently in the red as well, which exerts more pressure on high-risk assets of the likes of Bitcoin and other cryptocurrencies.
The vast majority of the damage occurred within a devastating 12-hour window that accounted for over $618.04 million in forced closures, with long positions taking a $569.88 million hit compared to just $48.16 million for shorts. Over a full 24-hour period, the total wipeout reached $660 million. The bulls suffered the lion's share of the damage, with $589 million in long liquidations. For comparison, there was only $71.89 million in short liquidations.
Bitcoin Says Goodbye to $80,000, Dogecoin Spikes 50% Hinting at New Rally, Toncoin Risks Losing $2: Crypto Market ReviewLong positions absorbed nearly all of the impact, given that the market was skewed toward bullish sentiment following Bitcoin's most recent recovery. , the cryptocurrency giant that remains the undisputed leader in terms of trading volume, accounted for 45% of the total market liquidations.
Bybit, another important player, followed with $104 million in total liquidations, a 16% share of the market wipeout. XRP's Volatility Risks Exploding, Dogecoin Uptrend Continues, Will Toncoin's Lifeline Support Save $2: Crypto Market ReviewXRP's Volatility Risks Exploding, Dogecoin Uptrend Continues, Will Toncoin's Lifeline Support Save $2: Crypto Market Review
Bitcoin Plunge Leverage Bullish Traders XRP Volatility Dogecoin Uptrend Toncoin Lifeline Support
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin Falls Below $78,000 as Analysis Eyes a New Bear TrapBitcoin's latest sub-$78,000. may end up as a classic bear trap, says new BTC price analysis.
Read more »
Project Hail Mary Passes Christopher Nolan's 'Oppenheimer' at Box Office, Reaches Box Office SurprisesProjet Hail Mary, the sci-fi epic based on Andy Weir's novel, has surpassed $330.95 million in domestic earnings, becoming one of the most successful films of the year. Despite having a two-month theatrical run, this ambitious production still makes box office surprises, with more than $660 million in global box office earnings. The movie is now the highest-grossing Weir film worldwide and exceeded Ridley Scott's 'The Martian' in both domestic and global box office gross.
Read more »
Michael Saylor Floated Bitcoin Sales Idea to Avoid ‘Impairing The Asset’Strategy executive chairman Michael Saylor said it is a “pretty important signal” that the market understands the company has the option to sell Bitcoin if required.
Read more »
Bitcoin Slides Under $79K on Macro Fears: Is a Rebound Around the Corner?Bitcoin faces macro headwinds and weak bullish leverage demand, but fixed-income outflows offer hope.
Read more »