Bitcoin Crash To $61,000 Drives 24-Hour Crypto Liquidations Toward $300 Million

Name	Symbol	Market	Market Cap ($)	Algorithm
Solana	SOLUSD	Crypto	64,031,985,195	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Solana

SOLUSD

Crypto

64,031,985,195

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-4.60	-3.08%	144.90	144.90	144.91

Price Change

Price Change %

Current Price

Bid Price

Offer

-4.60

-3.08%

144.90

144.91

High Price	Low Price	Open Price	Prev. Close	52 Week Range
150.62	143.63	149.28	149.50	15.70 - 210.00

High Price

Low Price

Open Price

Prev. Close

52 Week Range

150.62

143.63

149.28

149.50

15.70 - 210.00

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	11:49:10	1.08	144.90	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

11:49:10

1.08

144.90

USD

Price x Volume	Volume	Base Symbol	Related Pairs
47,125,453.26	321,115.64	SOL	SOLEUR	SOLGBP	SOLBTC

Price x Volume

Volume

Base Symbol

Related Pairs

47,125,453.26

321,115.64

Bitcoin Crash To $61,000 Drives 24-Hour Crypto Liquidations Toward $300 Million

24/06/2024 2:00pm

NEWSBTC

Early on Monday morning, the Bitcoin price crashed another 5% to drop to the $61,000 level. This drop, which was very sudden, has taken investors by surprise, triggering a massive wave of liquidations. As the volume continues to rise, the crypto liquidation figures have barreled toward $300 million in just 24 hours alone. 91,000 Crypto Traders Lose $282 Million Amid Bitcoin Crash Data from Coinglass has shown that tens of thousands of crypto traders have lost their leverage positions in the last day, leading to hundreds of millions of dollars in liquidations. This comes with the decline in the crypto market, spurred on by the Bitcoin crash. Related Reading: Polygon (MATIC) Turns Bullish After Losing Streak – Is A 1,000% Rally Possible From Here? So far, the number of traders who have lost their positions has crossed 91,000, and a little over $282 million has been lost since then. With the Bitcoin and crypto market crash, the majority of these liquidations have come from long traders, with an overwhelming 91.59%. As expected, Bitcoin has seen the largest liquidation volumes with $103 million. Ethereum follows in second place with $64 million, while Solana comes in third place with $13 million. Liquidations from others have also crossed $38 million during this time. Binance accounts for around 35% of total liquidations with $102.9 million, while the OKX exchange has recorded $82 million in liquidations. Huobi, Bybit, and Bitmex are in 3rd, 4th, and 5th positions with $47.72 million, $21.33 million, and $15.15 million, respectively. While the largest single liquidation order took place on the Bitmex exchange, where a trader lost $10 million on the XBTUSDT pair. At the time of writing, the majority of the liquidation had taken place in the last 12 hours alone, making up $230 million out of the recorded $282 million. Meanwhile, in the last hour, the liquidation volumes have crossed $102.5 million. Despite the notable liquidation volumes, the last 24 hours are still not the worst day for the month of June. Since June has been riddled with crashes, there have been notable liquidation trends for the month. For example, on June 7, liquidation volumes reached $360 million when the Bitcoin price crashed from $71,000 to $68,000. Related Reading: Little-Known But Important Dogecoin Indicator Goes Off, How High Can It Drive Price? Then again, on June 18, 24-hour liquidation volumes crossed $300 million when the Bitcoin price fell from $67,000 to $64,000. If the Bitcoin price continues to fall, then these liquidation volumes could continue to climb quickly and reaching $300 million could only be a matter of when and not if. The Bitcoin price is currently struggling to hold $61,000, with an approximately 5% decline in the last 24 hours. If bulls fail to hold this support level, the possibility of the price falling to the $50,000 territory becomes much higher. Featured image created with Dall.E, chart from Tradingview.com

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SOLUSD Solana