$215 Million in Liquidations as Bitcoin Price Sheds $3K in Hours

The cryptocurrency market went through serious volatility in the past couple of days and has left a trail of liquidations worth around $215 million in the last 24 hours.

• As CryptoPotato reported yesterday, Bitcoin’s price surged massively towards $42,000 following the news of President Biden signing the long-awaited executive order on cryptocurrencies.
• The document’s text was perceived well by the market, in general, as it failed to outline particular worries outside of what the industry had already factored in advance.
• Today, however, prices took a u-turn and headed south.
• Bitcoin shed around $3,000 off its dollar value, representing a decline of around 7.5%.

Source: TradingView

• Following suit as they almost always do, altcoins fell sharply. Ethereum is down about 5.3%, BNB – about 5%, and so forth.
• This left quite a lot of liquidated positions over the past 24 hours.
• Data from Coinglass reveals that total liquidations over this period amounted to over $215 million.
• Leading the way is Bitcoin with around $80M, followed by ETH with about $52M.