$300 million worth of transactions wiped out in the last 24 hours as Bitcoin (BTC) plunges sharply.
The crypto market, where bullish expectations are intense and bullish scenarios are being realized, suffered a setback recently. A decline of 5 percent was seen in BTC. With this decline, BTC fell from $36,700 to $34,800.
US consumer inflation data was announced on November 14. The positive data increased expectations that the price of BTC will continue to rise. However, BTC fell sharply on the evening of November 14, taking altcoins along with it.
The decline resulted in millions of dollars worth of liquidations. Most liquidations occurred in long (fast) transactions.
BTC crash wipes out $300 million from market!
Bitcoin (BTC) experienced a massive decline despite positive economic data from the United States. This drop came a few hours after the data and could not be attributed to any cause. BTC completed its decline, which started the previous day at $34,800. The decline reached 5 percent.
The decline of BTC ended the long (bullish) transactions. According to CoinGlass data, $300 million was liquidated in the last 24 hours. Of these, $264 million were liquidated in long transactions. Traders who opened short trades due to FOMO liquidated $39 million.
According to the CoinGlass heat map, $119 million was liquidated in BTC in the last 24 hours. ETH liquidations amounted to $63 million. In an environment where long transactions ended with BTC falling, SOL produced a remarkable data. SOL liquidations amounted to $12 million and were dominated by smaller transactions. SOL price increased despite the decline in BTC.
According to statistics, more than 75 thousand traders went bankrupt in the last 24 hours. The largest liquidations took place on the OKEx exchange. $9.45 million in BTC-USDT-SWAP parity was liquidated on this exchange.