The post Bitcoin’s Potential Drop May Cause $15B Liquidations on Binance appeared first on Coinpedia Fintech News
As a result of the Bitcoin drop, over the past 24 hours, 74,741 traders have liquidated assets worth $230.18 million, with top assets being BTC, ETH, and SOL. Leading the pack is Binance with $90.72 million, followed by OKX and Bybit with $84.81 and $25.91 million, respectively. The largest liquidation order was $5.40 million.
What’s happening? Is it a pre-halving crash? Let’s analyze the crypto market.
Analyst’s Bear Call for Bitcoin
Cryptocurrency analyst Ali Martinez’s warning about potential massive liquidations on Binance, triggered by Bitcoin’s price potentially dropping to $50,500, underscores the market’s sensitivity to significant price movements. Liquidations totaling $89 million in the past 24 hours, with long positions at $66.39 million and short positions at $22.61 million, highlight traders’ risk exposure in bullish and bearish
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