Bitcoin’s Price Dumps by More Than $3K in Minutes: Over $100M Longs Liquidated

Bitcoin’s price took a sudden dive, and lost over $3,000 in the past few minutes.

The crash took place following a relatively calm daily trading session where BTC looked as if it were to continue consolidating.

Source: CoinGecko

Data from the popular analytics resource Coinglass reveals that the total number of long liquidations within the last hour alone is around $100 million.

The total number of liquidated positions for the last 24 hours is around $141 million, the majority of which are longs.

Source: Coinglass

As it typically happens when enhanced volatility reaches BTC, most alternative coins feel the consequences as well.

CryptoPotato reported earlier that Solana and Avalanche had retraced by around 5-6% each, but the landscape now is a lot worse. Both assets are down by double digits and have slumped to $99 and $37, respectively.

Ripple’s native token has dumped hard as well, losing 11% of value. Similar drops are evident from Polygon, Polkadot, Shiba Inu, Litecoin, Chainlink, and Toncoin.

Ethereum has shed 7.6% of its value on a daily scale but manages to remain above $2,200 as of now. BNB is down to $310.


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