The post Bitcoin Drop Triggers $206M Liquidations In An Hour appeared first on Coinpedia Fintech News
Bitcoin lost its bullish track as its price dropped to $97K level. Bitcoin dropped to a low of $97,207, with the 4% decline pulling the global crypto market cap down 4.5% to $3.44 trillion.
Besides, the Bitcoin sell-off also casted its effect on altcoins, with Ethereum, XRP, and Solana all dropping over 5% in 24 hours. At the time, Bitcoin was around $97,664, Ethereum was near $3,475, XRP was at $2.32, and Solana was down to $208.
In the last 24 hours, total liquidations reached $388 million, with over $206 million occurring in just one hour. Most of these liquidations were from long and short positions across major exchanges. The sudden dip in Bitcoin that triggered a broader market sell-off, arrived in response to the latest U.S. macroeconomic data.
“TLDR on why the market is dipping: US data came in hot, causing a bond yield spike. ISM index higher than expected, JO
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