$400M Have Been Liquidated In One Day As BTC Drops Below $36K PlatoBlockchain Data Intelligence. Vertical Search. Ai.

$400M Have Been Liquidated In One Day As BTC Drops Below $36K

Time Stamp: February 22, 2022 8:18 AM

$400M have been liquidated in one day as BTC drops below the $36,000 price range while most other altcoins suffer even more so let’s read more today in our latest Bitcoin news.

The latest enhanced volatility on the market caused huge pains for the over-leveraged investors $400M has been liquidated in one day which happened after BTC slumped by about $3000 in one day. It is safe to say that the crypto landscape has seen some better days after these massive liquidations evaporated from the market cap in less than a week.

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BTCUSD. Source TradingView

With the terms “crypto winter” and “bear market” continuing to swirl in the community, Bitcoin’s situation worsened a day ago. The asset already lost the coveted $40,000 mark and crashed to $38,000 before a sudden and short price pump sent it north by a grand but this was short-lived and BTC dumped again, this time to over $36,000 which became the lowest price point since the beginning of February.

The altcoins bled out further and some double-digit price drops were evident from Ripple, Dogecoin, Shiba Inu, Solana, Avalanche, Matic, and CRO. Binance and Ethereum are among the few whose price drops are only by single-digit but both are deep in the red. This enhanced volatility surged the liquidations and the number of traders. The data from Coinglass shows that $400 million worth of liquidations happened out of 120,000 liquidated traders and the single biggest order happened on OKEX and was worth $4 million.

As earlier reported, After falling by $2000, BTC initiated a short recovery a day ago but was stopped at $39,500. it crashed again to $37,500 before the bears pushed it to a three-week low of over $36,000 which led to $400 million worth of liquidations. Despite recovering a few hundred dollars since then but BTC is still in the deep red on a daily scale. This came amid the growing tension between Russia and Ukraine but the latest news came that Russia ordered troops into the rebel-held regions after recognizing them as independent states.

btcusd
BTCUSD. Source TradingView

Both the US and the EU are threatening President Putin and his administration with harsh sanctions but they don’t have quite the effect just yet. As it usually happens when BTC suffers, the altcoins are in quite a bad shape and ETH is down to a new monthly low of around $2500 after a 7% decline.

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