In Monday's trading session, the cryptocurrency market witnessed a significant decline, resulting in more than $164 million worth of crypto assets being liquidated within 24 hours. Notably, Bitcoin's price registered a 3% drop, dipping to $28,900 levels before slightly recovering to approximately $29,280. Throughout the day, the price of BTC oscillated between a low of $29,068 and a high of $30,330. Within the past 24 hours, a significant number of traders, totaling 54,799, experienced liquidation, resulting in a collective liquidation amount of $164.42 million. Notably, the largest liquidation order involved OKX-BTC-USDT-SWAP, which amounted to $2.57 million.
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Impact of Global Economy and Interest Rate Decisions on Crypto Trading
The liquidation of long positions in the crypto market coincided with a surge in the US Dollar Index (DXY) value, which rose to 101.25. This surge prompted corrections in the prices of both Bitcoin and Ethereum. Traders are advised to closely monitor the DXY for any significant macro events that may unfold during the week, as it could potentially lead to a directional shift after a volatile period.Continue Reading:
Bitcoin Plunges Below $29K, Liquidating 54,799 Traders
In Monday's trading session, the cryptocurrency market witnessed a significant decline, resulting in more than $164 million worth of crypto assets being liquidated within 24 hours. Notably, Bitcoin's ...
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