Bitcoin and Ethereum crash by more than 12% in 6 minutes as more than $1B of positions gets liquidated
Bitcoin and Ethereum crashed by 12% and 20% respectively in about 6 minutes as more than $1 billion of positions were liquidated.
According to market data site Bybt, more than 72,422 people were liquidated in the last 24 hours. The largest single liquidation order worth $10 million happened on BitMEX’s Bitcoin perpetual swap.
Bitcoin’s price went from $11,930 to $10,550. By press time, the price has now recovered to about $11,400.
Ethereum crashed from $408 to $326. By press time, the price has now recovered to about $380.
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Bitcoin and Ethereum crash by more than 12% in 6 minutes as more than $1B of positions gets liquidated written by The Block @ https://www.theblockcrypto.com/linked/73710/bitcoin-and-ethereum-crash-by-more-than-12-in-6-minutes-while-more-than-1b-of-positions-got-liquidated?utm_source=rss&utm_medium=rss August 2, 2020 The Block