{"id":633156,"date":"2024-08-06T01:30:03","date_gmt":"2024-08-06T01:30:03","guid":{"rendered":"https:\/\/ktsl888.com\/?p=633156"},"modified":"2024-08-05T15:36:59","modified_gmt":"2024-08-05T15:36:59","slug":"crypto-liquidations-1-billion-bitcoin-crashes-52000","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/bitcoin-news\/crypto-liquidations-1-billion-bitcoin-crashes-52000\/","title":{"rendered":"Crypto Liquidations Cross $1 Billion As Bitcoin Crashes To $51,000"},"content":{"rendered":"

Data shows the cryptocurrency derivatives market has suffered liquidations of more than $1 billion in the past day as Bitcoin has crashed to $52,000.<\/p>\n

Bitcoin Has Plunged By More Than 15% During The Last 24 Hours<\/h2>\n

Bitcoin investors have been dealt a shock to open Monday, with the cryptocurrency having crashed<\/a> by more than 15%, which has taken its price to the $51,500 mark.<\/p>\n

Related Reading: Dogecoin Price (DOGE) Slips Alongside Bitcoin and Ethereum: Market Analysis<\/a><\/div>\n

The below chart shows how the recent trajectory has looked like for the asset:<\/p>\n

\"Bitcoin
Looks like the price of the coin has been sharply going down in recent days | Source: BTCUSD on TradingView<\/a><\/figcaption><\/figure>\n

From the graph, it’s visible that the latest sharp plunge in the BTC price is just an acceleration of the trend that the asset had already been witnessing since the last couple of days of July.<\/p>\n

On the 29th, the cryptocurrency was floating around the $70,000 mark, meaning that it had come down by more than 26% in only a week. Following this drawdown, Bitcoin is now back to the same level as that just before the late February rally, which went on to culminate in a new price all-time high (ATH).<\/p>\n

While BTC has had it bad during the past day, altcoins have in general had it even worse. Ethereum (ETH), BNB (BNB), and Solana (SOL), the three largest coins next to the original (excluding the stablecoin Tether), have all seen higher losses of 23%, 19%, and 21%, respectively.<\/p>\n

With prices across the sector crashing down, it’s not surprising to see that long investors have taken a heavy blow over on the derivatives side of the market.<\/p>\n

Crypto Liquidations Have Crossed $1 Billion, Majority Are Long Contracts<\/h2>\n

The latest volatility in the various assets has meant the derivatives market has gone through chaos over the past 24 hours, as the data from CoinGlass<\/a> below shows.<\/p>\n

\"Bitcoin
The crypto derivatives liquidation data for the last 24 hours | Source: CoinGlass<\/a><\/figcaption><\/figure>\n

As is visible in the table, a whopping $1.1 billion in cryptocurrency derivatives contracts have found liquidation in this period. “Liquidation<\/a>” here naturally refers to the process any contract undergoes after amassing losses of a certain degree, where its platform forcibly closes it up.<\/p>\n

An extreme majority of these liquidations, around 85% to be more precise, involved the long holders. This is a natural consequence of the market as a whole going through a crash.<\/p>\n

Interestingly, though, despite the sharp plummet, $173 million in shorts still managed to get liquidated, which isn’t really a small amount. Thus, it would appear that a large amount of investors only put their bearish bets in when the crash was already finished.<\/p>\n

Related Reading: Bitcoin Price Plunge Deepens: What Could Prevent a Recovery?<\/a><\/div>\n

In terms of the individual symbols, Bitcoin and Ethereum have contributed to the mass liquidation event by nearly the same degrees, witnessing liquidations of $367 million and $350 million, respectively.<\/p>\n

\"Bitcoin,
The distribution of the liquidations by symbol | Source: CoinGlass<\/a><\/figcaption><\/figure>\n

Clearly, BTC is still ahead, but by only a small amount, which is not usually the case. The reason behind ETH’s high liquidations may be the fact that the recent launch of the spot exchange-traded funds (ETFs)<\/a> had put more attention on the second largest coin by market cap.<\/p>\n

Featured image from Dall-E, CoinGlass.com, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Data shows the cryptocurrency derivatives market has suffered liquidations of more than $1 billion in the past day as Bitcoin has crashed to $52,000. Bitcoin Has Plunged By More Than 15% During The Last 24 Hours Bitcoin investors have been dealt a shock to open Monday, with the cryptocurrency having crashed by more than 15%, which has taken its price to the $51,500 mark. Related Reading: Dogecoin Price (DOGE) Slips Alongside Bitcoin and Ethereum: Market Analysis The below chart shows how the recent trajectory has looked like for the asset: From the graph, it’s visible that the latest sharp plunge in the BTC price is just an acceleration of the trend that the asset had already been witnessing since the last couple of days of July. On the 29th, the cryptocurrency was floating around the $70,000 mark, meaning that it had come down by more than 26% in only a week. Following this drawdown, Bitcoin is now back to the same level as that just before the late February rally, which went on to culminate in a new price all-time high (ATH). While BTC has had it bad during the past day, altcoins have in general had it even worse. Ethereum (ETH), BNB (BNB), and Solana (SOL), the three largest coins next to the original (excluding the stablecoin Tether), have all seen higher losses of 23%, 19%, and 21%, respectively. With prices across the sector crashing down, it’s not surprising to see that long investors have taken a heavy blow over on the derivatives side of the market. Crypto Liquidations Have Crossed $1 Billion, Majority Are Long Contracts The latest volatility in the various assets has meant the derivatives market has gone through chaos over the past 24 hours, as the data from CoinGlass below shows. As is visible in the table, a whopping $1.1 billion in cryptocurrency derivatives contracts have found liquidation in this period. “Liquidation” here naturally refers to the process any contract undergoes after amassing losses of a certain degree, where its platform forcibly closes it up. An extreme majority of these liquidations, around 85% to be more precise, involved the long holders. This is a natural consequence of the market as a whole going through a crash. Interestingly, though, despite the sharp plummet, $173 million in shorts still managed to get liquidated, which isn’t really a small amount. Thus, it would appear that a large amount of investors only put their bearish bets in when the crash was already finished. Related Reading: Bitcoin Price Plunge Deepens: What Could Prevent a Recovery? In terms of the individual symbols, Bitcoin and Ethereum have contributed to the mass liquidation event by nearly the same degrees, witnessing liquidations of $367 million and $350 million, respectively. Clearly, BTC is still ahead, but by only a small amount, which is not usually the case. The reason behind ETH’s high liquidations may be the fact that the recent launch of the spot exchange-traded funds (ETFs) had put more attention on the second largest coin by market cap. Featured image from Dall-E, CoinGlass.com, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":633228,"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":[428,506,517,84332,1119,1144,16768,85578,10923],"class_list":["post-633156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-crash","tag-bitcoin-derivatives","tag-bitcoin-liquidations","tag-btc","tag-btcusd","tag-crypto-derivatives","tag-crypto-liquidations","tag-crypto-market"],"acf":[],"yoast_head":"\nCrypto Liquidations Cross $1 Billion As Bitcoin Crashes To $51,000<\/title>\n<meta name=\"description\" content=\"Data shows the crypto derivatives market has suffered liquidations of more than $1 billion in the past day as Bitcoin has crashed to 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/ktsl888.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Liquidations Cross $1 Billion As Bitcoin Crashes To $51,000","url":"http:\/\/ktsl888.com\/bitcoin-news\/crypto-liquidations-1-billion-bitcoin-crashes-52000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/bitcoin-news\/crypto-liquidations-1-billion-bitcoin-crashes-52000\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/btc_67ed80.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/btc_67ed80.png?fit=1792%2C1024"},"articleSection":"Bitcoin News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin crash","bitcoin derivatives","bitcoin liquidations","btc","btcusd","crypto derivatives","crypto liquidations","crypto market"],"dateCreated":"2024-08-06T01:30:03Z","datePublished":"2024-08-06T01:30:03Z","dateModified":"2024-08-06T01:30:03Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Liquidations Cross $1 Billion As Bitcoin Crashes To $51,000\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/bitcoin-news\\\/crypto-liquidations-1-billion-bitcoin-crashes-52000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/bitcoin-news\\\/crypto-liquidations-1-billion-bitcoin-crashes-52000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/btc_67ed80.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/btc_67ed80.png?fit=1792%2C1024\"},\"articleSection\":\"Bitcoin News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin crash\",\"bitcoin derivatives\",\"bitcoin liquidations\",\"btc\",\"btcusd\",\"crypto derivatives\",\"crypto liquidations\",\"crypto market\"],\"dateCreated\":\"2024-08-06T01:30:03Z\",\"datePublished\":\"2024-08-06T01:30:03Z\",\"dateModified\":\"2024-08-06T01:30:03Z\"}<\/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\/08\/btc_67ed80.png?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/633156"}],"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\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=633156"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/633156\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/633228"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=633156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=633156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=633156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}