Coinspeaker
Bitcoin’s Price Drop to $64,000 Leads to $210 Million Liquidations in One Day

The crypto market has once again been rattled by volatility as Bitcoin (BTC) price slipped to $64,000, marking a downturn following its rebound from the recent geopolitical tensions in the Middle East.

Despite maintaining a strong position above $66,000 for several days and briefly flirting with the $67,000 mark post-halving on April 20, 2024, Bitcoin faced resistance, leading to a subsequent decline. According to CoinGlass data, this downturn has brought increased pressure on bullish investors and over-leveraged traders with long positions, as daily liquidations surged to over $210 million.

BTC Drop Leads to Massive Liquidations

Over the past 24 hours, approximately 91,704 leveraged positions have liquidated in the crypto market. Long traders took the hardest hit with $178 million liquidated across several layer-1 blockchains, including Ethereum (Ether) and Solana (SOL).

Short traders also faced losses, with more than $32 million liquidated within the sa...