Cryptocurrency

Bitcoin loses $19k as $100M is liquidated in less than 4 hours

After Ethereum got off to a strong start in Tuesday’s trading with Bitcoin rising 6% and heading towards $2,000, the market sees Bitcoin lose $19,000 and Ethereum below $1,500. .

bitcoin price
BTCUSD TradingView on crypto slate

Tuesday night’s selloff saw bitcoin liquidations surpass $100 million in four hours, bringing the total market liquidation to $222 million.

Bitcoin trading leveled off early on Tuesday as Ethereum surged in celebration of the successful Bellatrix hard fork, barely surpassing 1% for the day.

However, around 6pm BST, the price dropped dramatically and the coinglass chart below shows a spike in long-term liquidations over the next four hours.

bitcoin liquidation
Total BTC Liquidation (Source: Coinglass)

According to additional information from Coinglass, more than 100,000 traders have been liquidated in the last 24 hours, with a total daily liquidation volume of $407.18 million. The single most significant liquidation was Okex where he was valued at $2.57 million.

liquidation
Total liquidation (Source: Coinglass)

As of this writing, Bitcoin bulls are fighting hard to defend the $19,000 support, which has been tested three times over the past six months. recovered to

bitcoin support
sauce: BTCUSD on TradingView

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