Bitcoin Price Dips Toward $81K, Liquidations Approach $2 Billion
Bitcoin’s value continues to drop, buying and selling round $84,000 on the time of this writing. It dipped beneath $82,000 on Binance moments in the past, triggering a wave of liquidated leveraged positions throughout exchanges.
Data from Coinglass exhibits that the whole worth of liquidated positions has reached $2 billion over the previous 24 hours.
As you’ll be able to see, liquidated lengthy positions approached $1 billion up to now hour alone, intensified by the recent sell-off that pushed the market additional down.
As CryptoPotato reported, the most recent decline additionally signifies that the typical spot BTC ETF investor is at present underwater. After all, the asset misplaced greater than $20,000 up to now 10 days, having traded at round $107K on November eleventh.
If you’re questioning why Bitcoin’s value is down at present, ETF outflows reached a whopping $903 billion at present, in line with knowledge from Farside.
On the flipside, the continuing crash can be prompting many whales to purchase the dip. There’s a notable market divergence, with flows shifting from dumping to accumulation by bigger wallets, although the worth motion stays hectic.
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