Over $700,000,000 in Bitcoin, Ethereum and other crypto assets were liquidated in 24 hours as BTC fell below $69,000
Hundreds of millions of dollars worth of Bitcoin (BTC), Ethereum (ETH) and other crypto assets were liquidated in the last 24 hours as BTC fell back below its previous all-time high.
New data from market research platform Coinglass shows that $260 million worth of Bitcoin was liquidated in the last day, the vast majority of which were long positions.
Coinglass also notes that the leading smart contract platform liquidated $122 million worth over the same period, bringing the total amount of digital assets liquidated to a staggering $727 million in the last day.
Other prominent digital assets that have seen at least $10 million worth of liquidations include ETH rival Solana (SOL), popular meme assets Dogecoin (DOGE) and Pepe (PEPE), and Binance Coin ( BNB), the native asset of the world's largest crypto exchange platform, and Worldcoin (WLD), a privacy-focused eye-scanning project founded by OpenAI boss Sam Altman.
Coinglass data also shows that most liquidations came from four well-known crypto exchange platforms – Binance, OKX, Bybit and Huobi. Both Binance and OKX saw over $260 million worth of options contracts wiped out, while Bybit and Huobi saw $84 million and $56 million wiped out, respectively.
Bitcoin is trading for $68,407 at the time of writing, down 5% over the past day and down 7% from its new all-time high of $73,580 set earlier this week.
The flagship digital asset's previous all-time high was reached in November 2021 when it reached $69,000.
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Featured image: Shutterstock/Ivan Popovych
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