06 Apr $400 Million in Liquidations as Bitcoin Dumped to 10-Day Lows
The number of liquidated traders shot up above 100,000 and the total wrecked amount is above $400 million as bitcoin dumped to its lowest price position since March 25. Most altcoins are currently in an even worse shape.
The crypto market performed well in late March when BTC surged to above $48,000 and marked a three-month high. The altcoins followed suit with many of them, such as ETH, registering similar three-month peaks.
Yet, April started a bit more sluggish and bitcoin started losing value. It recovered most losses at first but earlier today dumped to just over $44,000.
Now, though, the asset slumped even further south to $43,800 (on Bitstamp), which became its lowest price level since March 25.
BTCUSD. Source: TradingViewAs it typically happens, the alternative coins mimicked the ride south, and most even registered even more substantial price losses.
Ethereum is down to $3,200, Binance Coin struggles at $425, while Solana, Polkadot, Avalanche, MATIC, ATOM, and LINK have lost around 10% on a daily scale.
Somewhat expectedly, this enhanced volatility has caused a large number of liquidations, according to data from Coinglass.
The resource shows that the total liquidations have surged to over $400 million on a 24-hour scale and the number of wrecked users is nearly 135,000.
The single largest liquidations order transpired on Okex and was worth almost $5 million.
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