Bitcoin price plunges as futures traders liquidated more than $16 billion

The crypto market continues to experience a turbulent week after the bitcoin price fell below $43,000 on Thursday, worsening the overall market situation for more than two months.

More than $530 million worth of open futures positions were liquidated in the last 24 hours as the bitcoin price fell to $41,695. 135,301 traders liquidated their portfolios on the Bybit exchange at a single unit.

Losses resulting from bitcoin trading alone already amount to over $332, representing 87% of open positions.

Some smaller coins flowed smoothly and showed strength.

Ethereum has also taken a tumble, dropping 14.36% since Wednesday’s opening, and is currently trading at around $3,175.

According to CoinMarketCap, the coins with the biggest drop in the last 24 hours are down 18.92%, while other coins are down about 13%.

The Spot Market is Closed

Sunday, January 9, 2022

Crypto
Updated at
USD
Price

Change

%Change
08.00 BTC41,921.95-225.48-0.54
08.00 ETH3,131.33-106.15-3.28
08.00 LTC131.06-2.87-2.15
08.00 BNB433.25-24.77-5.41
08.00 XRP0.75-0.02-2.39
08.00 ADA1.19-0.06-4.41
08.00 DOT24.35-1.01-3.99
08.00 DOGE0.150.00-2.99
08.00 UNI15.21-0.91-5.65
08.00 LINK25.94-0.20-0.77

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