Bitcoin Dips Below $57K, ETH Sub $4K: $120 Million Liquidated in an Hour
18 Nov, 2021•1 min read•Bitcoin
The cryptocurrency market continues to decline as Bitcoin’s price dipped below $57K, while Ethereum reached as low as $3,950 on Binance. This left around $120 million liquidated in just an hour.
In the meantime, Ethereum’s price also took a beating as it dipped below $4K and reached $3,950. The cryptocurrency is down 5.1% in a day and 13.5% in a week. Data from Bybt shows that this latest dump led to about $120 million worth of liquidated positions in the past hour, about 40% of which came from BTC alone. The total amount of liquidations for the day is $431 million. The largest single liquidation order took place on Bitmex – it was a BTC/USD position with a face value of $7.2 million. 80% of the liquidations in the last hour were of long positions, where the leading exchange in terms of it is Binance, followed by FTX and Bybit.