{"id":627674,"date":"2024-07-04T06:00:18","date_gmt":"2024-07-04T06:00:18","guid":{"rendered":"https:\/\/ktsl888.com\/?p=627674"},"modified":"2024-07-03T19:28:48","modified_gmt":"2024-07-03T19:28:48","slug":"crypto-carnage-nearly-200-million-liquidated-as-bitcoin-slips-below-61000","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/bitcoin-news\/crypto-carnage-nearly-200-million-liquidated-as-bitcoin-slips-below-61000\/","title":{"rendered":"Crypto Carnage: Nearly $200 Million Liquidated as Bitcoin Slips Below $61,000"},"content":{"rendered":"

In a turbulent 24-hour trading session, the cryptocurrency market saw nearly $200 million wiped out in liquidations as Bitcoin price dropped below $61,000<\/a>. This sharp decline triggered a wave of liquidations, affecting many investors and traders.<\/p>\n

Market Meltdown And Crypto Liquidation<\/h2>\n

The total market valuation has plunged by approximately 2.7% to around $2.34 trillion, underscoring heightened volatility and market stress.<\/p>\n

Related Reading: Bitcoin Price Drops Below $60,000: Key Reason Explained<\/a><\/div>\n

Bitcoin, leading the downturn, shed 1.3% over the week, with a steep 2.8% drop recorded in the last day. This downturn has not only decreased the value of many investors’ portfolios but has also led to substantial losses for traders via liquidations.<\/p>\n

\"Bitcoin
BTC price is moving sideways on the 2-hour chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Data<\/a> from Coinglass highlights the extent of the carnage, with 59,816 traders liquidated and total liquidations amounting to $170.72 million.<\/p>\n

The liquidations were predominantly from long positions, suggesting that many traders expected the market to rally<\/a>. Bitcoin traders faced approximately $45.76 million liquidations, with Ethereum and Solana traders experiencing $44.55 million and $11.09 million, respectively.<\/p>\n

\"Bitcoin
Bitcoin and other total liquidations. | Source: Coinglass<\/a><\/figcaption><\/figure>\n

The arena for these liquidations was on major exchanges like Binance, OKX, Huobi, and Bybit, with Binance traders bearing the brunt at $74.77 million.<\/p>\n

While other exchanges such as OKX, Huobi, and Bybit also experienced significant liquidations<\/a>, amounting to $54.29 million, $19.28 million, and $12.93 million, respectively. Despite also facing liquidations, the smaller exchanges had a comparatively minor impact.<\/p>\n

\"Total
Total liquidations from crypto exchanges. | Source: Coinglass<\/a><\/figcaption><\/figure>\n

Analysts’ Viewpoint On Bitcoin Current Performance<\/h2>\n

Despite the current downturn, some market analysts remain optimistic<\/a> about Bitcoin’s prospects. PlanB, a respected figure in the crypto community, reaffirmed<\/a> that the bull market is still ongoing, suggesting that underlying on-chain metrics do not show any abnormalities that would indicate a prolonged bear market.<\/p>\n

Related Reading: Buckle Up: Here Is Why Bitcoin Might Just Be Gearing Up For a 200% Surge<\/a><\/div>\n

Additionally, crypto analyst Ali recently suggested on Elon Musk’s social media, X, that now might be an opportune time to buy Bitcoin, anticipating a market rebound.<\/p>\n

\n

The TD Sequential, which told us to buy #Bitcoin<\/a> at $60,000 on June 28 and sell at $63,200 on July 1, is telling us to buy $BTC<\/a> again! pic.twitter.com\/JJzQtVJcBh<\/a><\/p>\n

\u2014 Ali (@ali_charts) July 3, 2024<\/a><\/p><\/blockquote>\n

Furthermore, vocal Bitcoin advocate Samson Mow has emphasized the importance of Bitcoin in addressing fundamental economic issues, suggesting that fixing monetary systems could be the key to broader economic recovery.<\/p>\n

\n

Governments, you can\u2019t fix the economy because the money is broken. You must fix the money first. #Bitcoin<\/a><\/p>\n

\u2014 Samson Mow (@Excellion) July 3, 2024<\/a><\/p><\/blockquote>\n

His views highlight the potential of Bitcoin not only to recover but also to reach new heights<\/a> in the financial landscape.<\/p>\n

Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

In a turbulent 24-hour trading session, the cryptocurrency market saw nearly $200 million wiped out in liquidations as Bitcoin price dropped below $61,000. This sharp decline triggered a wave of liquidations, affecting many investors and traders. Market Meltdown And Crypto Liquidation The total market valuation has plunged by approximately 2.7% to around $2.34 trillion, underscoring heightened volatility and market stress. Related Reading: Bitcoin Price Drops Below $60,000: Key Reason Explained Bitcoin, leading the downturn, shed 1.3% over the week, with a steep 2.8% drop recorded in the last day. This downturn has not only decreased the value of many investors’ portfolios but has also led to substantial losses for traders via liquidations. Data from Coinglass highlights the extent of the carnage, with 59,816 traders liquidated and total liquidations amounting to $170.72 million. The liquidations were predominantly from long positions, suggesting that many traders expected the market to rally. Bitcoin traders faced approximately $45.76 million liquidations, with Ethereum and Solana traders experiencing $44.55 million and $11.09 million, respectively. The arena for these liquidations was on major exchanges like Binance, OKX, Huobi, and Bybit, with Binance traders bearing the brunt at $74.77 million. While other exchanges such as OKX, Huobi, and Bybit also experienced significant liquidations, amounting to $54.29 million, $19.28 million, and $12.93 million, respectively. Despite also facing liquidations, the smaller exchanges had a comparatively minor impact. Analysts’ Viewpoint On Bitcoin Current Performance Despite the current downturn, some market analysts remain optimistic about Bitcoin’s prospects. PlanB, a respected figure in the crypto community, reaffirmed that the bull market is still ongoing, suggesting that underlying on-chain metrics do not show any abnormalities that would indicate a prolonged bear market. Related Reading: Buckle Up: Here Is Why Bitcoin Might Just Be Gearing Up For a 200% Surge Additionally, crypto analyst Ali recently suggested on Elon Musk’s social media, X, that now might be an opportune time to buy Bitcoin, anticipating a market rebound. The TD Sequential, which told us to buy #Bitcoin at $60,000 on June 28 and sell at $63,200 on July 1, is telling us to buy $BTC again! pic.twitter.com\/JJzQtVJcBh \u2014 Ali (@ali_charts) July 3, 2024 Furthermore, vocal Bitcoin advocate Samson Mow has emphasized the importance of Bitcoin in addressing fundamental economic issues, suggesting that fixing monetary systems could be the key to broader economic recovery. Governments, you can\u2019t fix the economy because the money is broken. You must fix the money first. #Bitcoin \u2014 Samson Mow (@Excellion) July 3, 2024 His views highlight the potential of Bitcoin not only to recover but also to reach new heights in the financial landscape. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":627679,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,441,89655,678,1119,78790,6664,91908,10923],"class_list":["post-627674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-analysis","tag-bitcoin-liquidation","tag-bitcoin-prediction","tag-btc","tag-btcusdt","tag-crypto","tag-crypto-liquidation","tag-crypto-market"],"acf":[],"yoast_head":"\nCrypto Carnage: Nearly $200 Million Liquidated as Bitcoin Slips Below $61,000<\/title>\n<meta name=\"description\" content=\"In a turbulent 24-hour trading session, the cryptocurrency market saw nearly $200 million wiped out in liquidations as Bitcoin price...\" \/>\n<meta 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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":"Crypto Carnage: Nearly $200 Million Liquidated as Bitcoin Slips Below $61,000","url":"http:\/\/ktsl888.com\/bitcoin-news\/crypto-carnage-nearly-200-million-liquidated-as-bitcoin-slips-below-61000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/bitcoin-news\/crypto-carnage-nearly-200-million-liquidated-as-bitcoin-slips-below-61000\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/DALL\u00b7E-2024-07-03-18.01.48-Create-a-dramatic-featured-image-for-an-article-titled-Crypto-Carnage_-Nearly-200-Million-Liquidated-as-Bitcoin-Slips-Below-61000.-Show-Bitcoin-.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/DALL\u00b7E-2024-07-03-18.01.48-Create-a-dramatic-featured-image-for-an-article-titled-Crypto-Carnage_-Nearly-200-Million-Liquidated-as-Bitcoin-Slips-Below-61000.-Show-Bitcoin-.jpg?fit=1024%2C1024"},"articleSection":"Bitcoin 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":["bitcoin","bitcoin analysis","bitcoin liquidation","bitcoin prediction","btc","btcusdt","crypto","crypto liquidation","crypto market"],"dateCreated":"2024-07-04T06:00:18Z","datePublished":"2024-07-04T06:00:18Z","dateModified":"2024-07-04T06:00:18Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Carnage: Nearly $200 Million Liquidated as Bitcoin Slips Below $61,000\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/bitcoin-news\\\/crypto-carnage-nearly-200-million-liquidated-as-bitcoin-slips-below-61000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/bitcoin-news\\\/crypto-carnage-nearly-200-million-liquidated-as-bitcoin-slips-below-61000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/DALL\\u00b7E-2024-07-03-18.01.48-Create-a-dramatic-featured-image-for-an-article-titled-Crypto-Carnage_-Nearly-200-Million-Liquidated-as-Bitcoin-Slips-Below-61000.-Show-Bitcoin-.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/DALL\\u00b7E-2024-07-03-18.01.48-Create-a-dramatic-featured-image-for-an-article-titled-Crypto-Carnage_-Nearly-200-Million-Liquidated-as-Bitcoin-Slips-Below-61000.-Show-Bitcoin-.jpg?fit=1024%2C1024\"},\"articleSection\":\"Bitcoin 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\":[\"bitcoin\",\"bitcoin analysis\",\"bitcoin liquidation\",\"bitcoin prediction\",\"btc\",\"btcusdt\",\"crypto\",\"crypto liquidation\",\"crypto market\"],\"dateCreated\":\"2024-07-04T06:00:18Z\",\"datePublished\":\"2024-07-04T06:00:18Z\",\"dateModified\":\"2024-07-04T06:00:18Z\"}<\/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\/2024\/07\/DALL\u00b7E-2024-07-03-18.01.48-Create-a-dramatic-featured-image-for-an-article-titled-Crypto-Carnage_-Nearly-200-Million-Liquidated-as-Bitcoin-Slips-Below-61000.-Show-Bitcoin-.jpg?fit=1024%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/627674"}],"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=627674"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/627674\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/627679"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=627674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=627674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=627674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}