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$600 Million Liquidated as Bitcoin Price Drops $3000 in Minutes, Rejecting the $60K Resistance

Bitcoin went through a sudden crash in today’s European morning trading session, losing around $3,000 of its dollar value in less than an hour. As it’s almost always the case, this caused a serious wave of liquidations throughout the entire market, with over $600 million of leveraged positions wiped out.
In the past hour, data shows that there are over $600 million liquidations – both long and short.
The overwhelming majority of liquidations were long positions, accounting for around 95% of the total amount.
Leading the way is Binance, which is almost always the case since Binance Futures is the world’s leading derivatives exchange by means of users and volume.
The largest single liquidation order took place on Huobi – it was a BTC order worth over $14 million.
All of the above took place following Bitcoin’s sudden crash.
As seen in the below BTC/USD Chart by TradingView, the cryptocurrency crashed by around $3,000 in a matter of 25 minutes.
BTC/USD. Source: TradingViewThis happened right as Bitcoin was attempting to penetrate above the coveted $60K mark.
Unfortunately, the cryptocurrency was unable to do so and crashed to below $57K. However, the dip was bought up quickly as BTC recovered some of the losses and is currently trading at around $58,000.
With this said, the entire market took a beating, with all cryptocurrencies following Bitcoin’s footsteps.

Story continues on Crypto Potato

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