$1.25 Billion in Liquidations as Bitcoin Price Briefly Dips Below $21K

The cryptocurrency market downturn continues with no signs of slowing down. Bitcoin dipped below $21K, leaving around $1.24 billion in total liquidations over the past 24 hours.

The bloodbath in the cryptocurrency market continues, and it doesn’t seem to show any signs of slowing down.
At the time of this writing, BTC is trading at around $21,900, down 15.6% on the day.
Source: Binance via TradingView


This has left a whopping $1.24 billion in liquidations over the past 24 hours across the entire market, according to data from Coinglass.
The bulk of it is coming from Bitcoin, clocking in at over $600 million. Ethereum is a close second with slightly below $480 million at the time of this writing.
Ethereum also fell below $1.1K briefly but managed to recover to where it’s currently trading at slightly below $1.2k.
The largest single liquidation order took place on BitMEX – it was an XBTUSD perpetual contract with a face value of over $4.4 million.

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