Over $350M in Liquidations as Bitcoin Dumped Below $19K:
Daily liquidations are on a rising trend once again after the recent market drop down on BTC.
Ethereum wiped away its recent gains, dipping below $1,500 briefly, while BTC saw a multi-week low.
Yesterday was a green day for the crypto market, especially for altcoins – Few registered impressive gains.
Allegedly fueled by the Bellatrix upgrade – the last stage before the long-anticipated Merge – Ethereum soared by double-digits to a multi-day high of over $1,650.
Ethereum Classic was another massive gainer, surging past $40.
Unfortunately, after Hours of those increases, BTC was rejected at $20,000 and plummeted by approximately $1,500 to its lowest price position since late July of $18,500.
Ethereum also failed to retain momentum and dumped to just under $1,500.
ETC, among a few other Alts declined by double-digits.
This unexpected or expected volatility resulted in severe pain for some over-leveraged traders as the number of liquidated ones on a 24-hour scale is now just shy of 100,000 – Bringing total wrecked positions value up to $360 billion.
Meanwhile, the single-largest liquidation took place on OKX exchange – BTC/USDT trading pair.