{"id":536674,"date":"2023-06-06T16:00:09","date_gmt":"2023-06-06T16:00:09","guid":{"rendered":"https:\/\/ktsl888.com\/?p=536674"},"modified":"2024-06-11T08:30:56","modified_gmt":"2024-06-11T08:30:56","slug":"crypto-market-turmoil-bitcoin-slips-26000-triggers-liquidations","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/crypto-market-turmoil-bitcoin-slips-26000-triggers-liquidations\/","title":{"rendered":"Bitcoin Slips Below $26,000, Triggers Over $300 Million In Liquidations"},"content":{"rendered":"<p><span class=\"selectable-text copyable-text\">The cryptocurrency market experienced a significant jolt as Bitcoin, the largest cryptocurrency by market capitalization, slipped below its previously plateaued <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/binance-australia-unveils-bitcoin-discount-in-countdown\/\" target=\"_blank\" rel=\"noopener \">threshold of $26,000<\/a>. This downward movement has led to a surge in total liquidations, with traders losing more than $300 million within a span of 24 hours. <\/span><\/p>\n<p><span class=\"selectable-text copyable-text\">The repercussions of this event are reverberating throughout the market, with major exchanges recording substantial liquidation figures.<\/span><\/p>\n<h2><span class=\"selectable-text copyable-text\">Record Liquidations Hit The Market<\/span><\/h2>\n<p><span class=\"selectable-text copyable-text\">The crypto market has been shaken by a surge in liquidations as Bitcoin faltered, prompting a domino effect of positions being forcefully closed. According to <a href=\"https:\/\/www.coinglass.com\/LiquidationData\" target=\"_blank\" rel=\"noopener nofollow\">data<\/a> from Coinglass, roughly 112,837 traders were liquidated in the past 24 hours, resulting in a cumulative loss of $304 million and counting. <\/span><\/p>\n<p><span class=\"selectable-text copyable-text\">Among the exchanges involved, Binance took the lead in liquidations with $100.4 million, closely followed by OKX at $80.62 million. Although other exchanges also witnessed liquidations, their impact was comparatively lesser.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-dominance-records-shifting-trends-stablecoin-flows\/\" target=\"_blank\" rel=\"noopener \">Bitcoin (BTC) Dominance Trend Shifts Alongside Stablecoin Flows: Glassnode<\/a><\/div>\n<p><span class=\"selectable-text copyable-text\">In the wake of Bitcoin&#8217;s dip, long positions bore the brunt of the liquidations, accounting for approximately $277.45 million (91.22%) of the total. This reflects the overwhelming presence of traders who had anticipated a price increase. <\/span><\/p>\n<p><span class=\"selectable-text copyable-text\">Simultaneously, short positions also faced liquidations, amounting to approximately $26.71 million or nearly 10% of the total. The volatility of the market proved detrimental to both sides of the trading spectrum.<\/span><\/p>\n<p>Amid the widespread liquidations, one trader stands out for enduring the largest single liquidation. A trader on Bitmex recorded a massive loss of $9.94 million in an XBTUSD swap, underscoring the magnitude of the market upheaval.<\/p>\n<p>Additionally, Bitcoin liquidations alone accounted for $105.54 million, while <a href=\"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-fees-plunge-70-following-a-yearly-high-in-may\/\" target=\"_blank\" rel=\"noopener \">Ethereum (ETH)<\/a> witnessed liquidations totaling $33.87 million, further highlighting the far-reaching implications of this event.<\/p>\n<h2><span class=\"selectable-text copyable-text\">Bitcoin Slips Below $30,000<\/span><\/h2>\n<p class=\"selectable-text copyable-text iq0m558w\" dir=\"ltr\"><span class=\"selectable-text copyable-text\">The global crypto market cap also slumped below the previously established $1.2 trillion mark with a <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/jpmorgan-predicts-bitcoin-btc-to-revisit-45000-heres-why\/\" target=\"_blank\" rel=\"noopener \">value of $1.133 trillion<\/a> at the time of writing, down by nearly 3.7% in the last 24 hours. The plunge comes after the ongoing negativity in the market such as the thrown-around lawsuit by the Securities and Exchange Commission (SEC).<\/span><\/p>\n<p class=\"selectable-text copyable-text iq0m558w\" dir=\"ltr\"><span class=\"selectable-text copyable-text\">The news impacted <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-dominance-records-shifting-trends-stablecoin-flows\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a> significantly as the asset has lost more than $20 billion from its market cap in the past 24 hours and is down by nearly 5%, indicating possible violent selling pressure. Though the top crypto saw a slight uptrend on Sunday, it has seen a bearish trend since then.<\/span><\/p>\n<figure style=\"width: 2768px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/WYjXxFy6\/\" alt=\"Bitcoin (BTC)\u2019s price chart on TradingView\" width=\"2768\" height=\"1556\"><figcaption class=\"wp-caption-text\">Bitcoin (BTC)\u2019s price moving sideways on the 4-hour chart. Source: BTC\/USD on <a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=BINANCE%3ABTCUSD\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<p dir=\"ltr\">Meanwhile, at the time of writing,\u00a0BTC <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/no-all-time-high-for-bitcoin-in-2023-former-bitmex-head-arthur-hayes-predicts\/\" target=\"_blank\" rel=\"noopener \">currently trades below $26,000<\/a> with a 24-hour trading volume of $21 billion. An increase from the previously recorded daily trading volume of $11 billion seen last week Tuesday.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/no-all-time-high-for-bitcoin-in-2023-former-bitmex-head-arthur-hayes-predicts\/\" target=\"_blank\" rel=\"noopener \">No All-Time High For Bitcoin In 2023, Former BitMEX Head Arthur Hayes Predicts<\/a><\/div>\n<p dir=\"ltr\"><span class=\"selectable-text copyable-text\">It is important to highlight that amidst the substantial liquidations, certain traders managed to capitalize on the market movement by strategically shorting their positions. While a considerable number of traders faced losses due to their long positions on Bitcoin, those who correctly anticipated the downward trend are now reaping profits in the current slumping cryptocurrency market.<\/span><\/p>\n<p dir=\"ltr\">Featured image from iStock, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency market experienced a significant jolt as Bitcoin, the largest cryptocurrency by market capitalization, slipped below its previously plateaued threshold of $26,000. This downward movement has led to a surge in total liquidations, with traders losing more than $300 million within a span of 24 hours. The repercussions of this event are reverberating throughout the market, with major exchanges recording substantial liquidation figures. Record Liquidations Hit The Market The crypto market has been shaken by a surge in liquidations as Bitcoin faltered, prompting a domino effect of positions being forcefully closed. According to data from Coinglass, roughly 112,837 traders were liquidated in the past 24 hours, resulting in a cumulative loss of $304 million and counting. Among the exchanges involved, Binance took the lead in liquidations with $100.4 million, closely followed by OKX at $80.62 million. Although other exchanges also witnessed liquidations, their impact was comparatively lesser. Related Reading: Bitcoin (BTC) Dominance Trend Shifts Alongside Stablecoin Flows: Glassnode In the wake of Bitcoin&#8217;s dip, long positions bore the brunt of the liquidations, accounting for approximately $277.45 million (91.22%) of the total. This reflects the overwhelming presence of traders who had anticipated a price increase. Simultaneously, short positions also faced liquidations, amounting to approximately $26.71 million or nearly 10% of the total. The volatility of the market proved detrimental to both sides of the trading spectrum. Amid the widespread liquidations, one trader stands out for enduring the largest single liquidation. A trader on Bitmex recorded a massive loss of $9.94 million in an XBTUSD swap, underscoring the magnitude of the market upheaval. Additionally, Bitcoin liquidations alone accounted for $105.54 million, while Ethereum (ETH) witnessed liquidations totaling $33.87 million, further highlighting the far-reaching implications of this event. Bitcoin Slips Below $30,000 The global crypto market cap also slumped below the previously established $1.2 trillion mark with a value of $1.133 trillion at the time of writing, down by nearly 3.7% in the last 24 hours. The plunge comes after the ongoing negativity in the market such as the thrown-around lawsuit by the Securities and Exchange Commission (SEC). The news impacted Bitcoin significantly as the asset has lost more than $20 billion from its market cap in the past 24 hours and is down by nearly 5%, indicating possible violent selling pressure. Though the top crypto saw a slight uptrend on Sunday, it has seen a bearish trend since then. Meanwhile, at the time of writing,\u00a0BTC currently trades below $26,000 with a 24-hour trading volume of $21 billion. An increase from the previously recorded daily trading volume of $11 billion seen last week Tuesday. Related Reading: No All-Time High For Bitcoin In 2023, Former BitMEX Head Arthur Hayes Predicts It is important to highlight that amidst the substantial liquidations, certain traders managed to capitalize on the market movement by strategically shorting their positions. While a considerable number of traders faced losses due to their long positions on Bitcoin, those who correctly anticipated the downward trend are now reaping profits in the current slumping cryptocurrency market. Featured image from iStock, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":523579,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[134,10768,428,1119,1144,6664,1946,2765,86404],"class_list":["post-536674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin","tag-binance","tag-bitcoin","tag-btc","tag-btcusd","tag-crypto","tag-ethereum","tag-liquidation","tag-okx"],"acf":[],"yoast_head":"\n<title>Bitcoin Slips Below $26,000, Triggers Over $300 Million In Liquidations<\/title>\n<meta name=\"description\" content=\"The cryptocurrency market experienced a significant jolt as Bitcoin, the largest cryptocurrency by market capitalization, slipped below...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.\",\"sameAs\":[\"https:\/\/x.com\/0xEdyme\"],\"url\":\"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/\"}]}<\/script>\n","yoast_head_json":{"title":"Bitcoin Slips Below $26,000, Triggers Over $300 Million In Liquidations","description":"The cryptocurrency market experienced a significant jolt as Bitcoin, the largest cryptocurrency by market capitalization, slipped below...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ktsl888.com\/news\/crypto-market-turmoil-bitcoin-slips-26000-triggers-liquidations\/","og_locale":"en_US","og_type":"article","og_title":"Bitcoin Slips Below $26,000, Triggers Over $300 Million In Liquidations","og_description":"The cryptocurrency market experienced a significant jolt as Bitcoin, the largest cryptocurrency by market capitalization, slipped 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Slips Below $26,000, Triggers Over $300 Million In Liquidations","url":"http:\/\/ktsl888.com\/news\/crypto-market-turmoil-bitcoin-slips-26000-triggers-liquidations\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/crypto-market-turmoil-bitcoin-slips-26000-triggers-liquidations\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Bitcoin-shorts.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Bitcoin-shorts.jpeg?fit=509%2C339"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","binance","bitcoin","btc","btcusd","crypto","ethereum","liquidation","okx"],"dateCreated":"2023-06-06T16:00:09Z","datePublished":"2023-06-06T16:00:09Z","dateModified":"2024-06-11T08:30:56Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Slips Below $26,000, Triggers Over $300 Million In Liquidations\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/crypto-market-turmoil-bitcoin-slips-26000-triggers-liquidations\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/crypto-market-turmoil-bitcoin-slips-26000-triggers-liquidations\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/Bitcoin-shorts.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/Bitcoin-shorts.jpeg?fit=509%2C339\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"binance\",\"bitcoin\",\"btc\",\"btcusd\",\"crypto\",\"ethereum\",\"liquidation\",\"okx\"],\"dateCreated\":\"2023-06-06T16:00:09Z\",\"datePublished\":\"2023-06-06T16:00:09Z\",\"dateModified\":\"2024-06-11T08:30:56Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Bitcoin-shorts.jpeg?fit=509%2C339","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/536674"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=536674"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/536674\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/523579"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=536674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=536674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=536674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}