The Magazine for Asian Investors
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%.
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Sunday, January 9, 2022