$7.6 billion crypto long positions liquidated in one hour as bitcoin plunges to $52,000
$7.6 billion worth-of crypto long positions have been liquidated over the past hour as bitcoin’s price plunged to $52,000, data from bybt.com shows.
Bitcoin’s price has started to trend downwards since early Saturday but the sudden plunge began around 3:00 UTC Time on Sunday.
Bitcoin’s price dropped by more than 10% over the past hour from $5,8000 to below $52,000, during which around $4.3 billion in bitcoin long positions have been liquidated.
As of writing, bitcoin’s price has bounced back to around $55,000.
Overall, $9.2 billion worth-of crypto long positions have been liquidated in the last 24 hours.
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Author: Wolfie Zhao
