More Than $200 Million Worth of Crypto Liquidated as BTC Plunges to $65K
Release: 2024/06/15 04:49 Reading: 512
Cover image via U.Today
According to recent data provided by Coinglass, a significant $207 million of crypto has been liquidated over the past 24 hours. Long positions account for the majority of the wipeout ($184.09 million). Notably, $135.84 million worth of crypto has been liquidated over the past four hours alone.
OKX ranks first in terms of total liquidations ($47.64 million), with Binance and Huobi following closely with $43.84 million and $27.19 million, respectively. Over 80,000 traders have faced liquidations within the 24-hour period, with the most significant single liquidation exceeding $3 million on OKX.
Bitcoin, Ethereum, Solana, and Dogecoin are the leading cryptocurrencies by liquidations. Earlier this Friday, Bitcoin plunged to an intraday low of $65,018, according to CoinGecko data. It currently trades at $65,448, having recovered some gains. The flagship cryptocurrency has declined by approximately 5% over the past week.
On Wednesday, Bitcoin nearly reclaimed the $70,000 level after lower-than-expected US inflation data for May. However, it reversed course after Federal Reserve Chair Jerome Powell's somewhat hawkish comments on the same day, unnerving traders who anticipated multiple rate cuts this year.
Due to Bitcoin exchange-traded fund (ETF) outflows and macroeconomic uncertainties, the largest cryptocurrency has experienced underperformance and has fallen below the crucial $66,000 support level.
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