Crypto Liquidations Reach $360M as Bitcoin Price Plummets
The cryptocurrency market experienced a sharp downturn on April 30, with Bitcoin leading the plunge and dropping below $60,000, resulting in significant liquidation for crypto traders. Data from CoinGlass showed that long traders faced losses of $246 million within 24 hours, with nearly $360 million liquidated across the market. The market has slightly recovered, but traders on both the long and short sides saw combined losses of $8 million in the past four hours alone, with analysts attributing the market decline to decreased demand for Bitcoin ETFs and a slowdown in Bitcoin demand among institutional investors.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitget donates HK$12 million to support fire rescue and reconstruction efforts in Tai Po, Hong Kong
Bitget Spot Margin Announcement on Suspension of ELX/USDT Margin Trading Services
Enjoy perks for new grid traders and receive dual rewards totaling 150 USDT
Bitget Spot Margin Announcement on Suspension of BEAM/USDT, ZEREBRO/USDT, AVAIL/USDT, HIPPO/USDT, ORBS/USDT Margin Trading Services
