The previous 24 hours have seen significant bleeding in the cryptocurrency market. The market value of the entire world fell by 6.8% to $950 billion. In the last 24 hours, about $875 million has been sold, and bitcoin has fallen 11% to about $18,400.
In terms of liquidations, Bitcoin lost the most, with traders losing almost $233 million in BTC. Ether came next, liquidating $175 million. The recently discussed FTX and Solana tokens were followed by liquidations of $41.5 million and $28.4 million, respectively.
With a BTC/USDT value of $6.7 million, Binance had the single highest liquidation. Overall, positions for almost 380,000 dealers were liquidated. The majority of these liquidations, which totaled $243 million, happened on Binance.
The turnaround has had a significant impact on traders who had been looking for the market to recover. As the market approaches the end of 2022, Bitcoin and other cryptocurrencies have been looking positive, but there might still be drama.
