Crypto Market Liquidations Top $875M in Last 24 Hours, Bitcoin Price Sheds 11%

In Brief :

• Crypto market traders experienced liquidations amounting to $875 million in the past 24 hours.
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• Bitcoin and Ethereum both experienced double-digit percentage drops as they fell past support levels.
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• FTX token has dropped by over 70% following the news that the exchange would be acquired by Binance.

Over 380,000 crypto market traders have been liquidated in the past 24 hours, resulting in over $875 million in positions closed. Both Bitcoin and Ethereum experienced double-digit drops.

The crypto market has taken suffered massive bleeding in the past 24 hours. The global market cap tanked by 6.8% to $950 billion. Over $875 million has been liquidated in the past 24 hours, as bitcoin drops by 11% to around $18,400.

Bitcoin suffered the most in terms of liquidations, with traders losing roughly $233 million in BTC. Ether followed with $175 million in liquidations. The Solana and FTX tokens, both of which have been in the news lately, followed with $41.5 million and $28.4 million in liquidations.

Source : beincrypto.com/crypto-market-liquidations-top-875m-last-24-hours-bitcoin-price-sheds-11/ by Rahul Nambiampurath - November 09, 2022