Bitcoin Price Plunges By $1.4K In Minutes

Bitcoin price plunges by $1.4k in minutes. On Sunday, Bitcoin suffered a fall in price of $1,458 in less than an hour. The sudden slide caught off guard many traders, forcing a considerable amount of market buying pressure out.

The sudden price drop has liquidated nearly $1.4 billion worth of positions across major exchanges, as noted by derivatives data provider Bybt.

The price drop triggered $144 million worth of sell liquidations or forced closure of long positions on BitMEX, the highest since May 10, according to data source Skew.

The Seychelles-based exchange also registered buy liquidations or forced closure of short positions worth $7.6 million. Within the previous 24 hours, at least 72,422 positions were liquidated, with the largest, that of $10 million, occurring on BitMEX.

Nearly 95% of BitMEX liquidations were long positions – a sign the leverage was skewed to the bullish side – which isn’t surprising given the cryptocurrency recently charted a bullish breakout with a move above $10,500.

At press time, the cryptocurrency was trading near $11,031, representing a 5.5% drop on a 24-hour basis. Prices are still up nearly 57% on a year-to-date basis.

[image: Clifford Photograph]

bitcoin
Bitcoin (BTC) $ 63,209.00 0.09%
ethereum
Ethereum (ETH) $ 2,513.43 3.52%
binance-coin
Binance Coin (BNB) $ 528.66 2.45%
xrp
XRP (XRP) $ 1.74 1.89%
cardano
Cardano (ADA) $ 1.47 2.22%
tether
Tether (USDT) $ 1.00 0.46%
polkadot
Polkadot (DOT) $ 43.21 1.75%
dogecoin
Dogecoin (DOGE) $ 0.227534 75.33%
litecoin
Litecoin (LTC) $ 290.10 5.57%
uniswap
Uniswap (UNI) $ 37.10 2.96%
S&P 500  ^GSPC 
$4,170.42  $45.76  (1.11%)
Dow Jones Industrial Average  ^DJI 
$34,035.99  $305.10  (0.90%)
NASDAQ Composite  ^IXIC 
$14,038.76  $180.92  (1.31%)
Russell 2000  ^RUT 
$2,257.07  $9.35  (0.42%)
Crude Oil May 21  F*CL.NYM 
$63.38  $0.0800  (-0.13%)
   
$0.0000  $0.0000  (0.00%)