Bitcoin and Ethereum dropped by 12% and 20% respectively in approximately 6 minutes as greater than $1 billion of rankings were liquidated.
Based on market data website Bybt, over 72,422 individuals were liquidated at the past 24 hours. The biggest single liquidation order worth $10 million occurred on BitMEX’s Bitcoin perpetual swap.
Bitcoin’s price went from $11,930 to $10,550. By press time, the price has recovered to approximately $11,400.
Ethereum crashed from $408 to $326. By press time, the price has recovered to approximately $380.
© 2020 The Block Crypto, Inc. All Rights Reserved. The following guide is provided for informational purposes only. It isn’t provided or intended to be utilized as tax, legal, investment, financial, or other information.