After a few consecutive days of charting impressive gains and recording new ATHs, Bitcoin’s price has finally retraced in a violent fashion to a weekly low of $67,000.
The altcoins have also turned red, leading to almost 200,000 liquidated traders in the past 24 hours.
CryptoPotato reported BTC’s recent ascent that drove the asset from $61,000 to over $73,000 within ten days or so. The latest record came yesterday when the primary cryptocurrency neared $74,000 for the first time ever.
The alternative coins followed suit with multi-year records from the likes of Ethereum, which surpassed $4,000, SOL, which went as high as $180, and BNB, which soared past $600.
Such rallies are frequently followed by sharp retracements as some investors tend to cash out, and there were such warnings yesterday.
BTC first slumped to $70,000, but the bears kept pushing it south, and the asset tumbled all the way down to $67,000 hours ago, a level not seen in a week.
BTCUSD. Source: TradingView
The altcoins are also deep in the red, with ETH and BNB dumping by 7% to under $3,700 and $575, respectively.
The most substantial losses from the larger cap alts come from Dogecoin (-12%) and Shiba Inu (-11%).
These adverse price movements have liquidated more than 190,000 traders, according to CoinGlass. The total value of wrecked positions is just shy of $700 million, with the single-largest taking place on OKX, which was worth over $13 million.
The post Nearly $700 Million Liquidated as Bitcoin (BTC) Price Slumps to $67K appeared first on CryptoPotato.
The altcoins have also turned red, leading to almost 200,000 liquidated traders in the past 24 hours.
CryptoPotato reported BTC’s recent ascent that drove the asset from $61,000 to over $73,000 within ten days or so. The latest record came yesterday when the primary cryptocurrency neared $74,000 for the first time ever.
The alternative coins followed suit with multi-year records from the likes of Ethereum, which surpassed $4,000, SOL, which went as high as $180, and BNB, which soared past $600.
Such rallies are frequently followed by sharp retracements as some investors tend to cash out, and there were such warnings yesterday.
BTC first slumped to $70,000, but the bears kept pushing it south, and the asset tumbled all the way down to $67,000 hours ago, a level not seen in a week.
BTCUSD. Source: TradingView
The altcoins are also deep in the red, with ETH and BNB dumping by 7% to under $3,700 and $575, respectively.
The most substantial losses from the larger cap alts come from Dogecoin (-12%) and Shiba Inu (-11%).
These adverse price movements have liquidated more than 190,000 traders, according to CoinGlass. The total value of wrecked positions is just shy of $700 million, with the single-largest taking place on OKX, which was worth over $13 million.
The post Nearly $700 Million Liquidated as Bitcoin (BTC) Price Slumps to $67K appeared first on CryptoPotato.
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