Bitcoin recorded an overall liquidation of $145.83 million over the last 24 hours. In contrast, Ethereum had a widespread liquidation of $123.24 million over the same time.
Bitcoin price fell as high as $34k today, which triggered a massive cryptocurrency sell-off in the wake of announcements about the beginning of Russian attacks on Ukraine.
Bitcoin fell below the significant support set in the middle of last year. At the time of writing, Bitcoin traded around $35k according to data on the market supplied from TradingView and CoinGecko.
With Bitcoin price falling, the demand for altcoins was not unaffected and led by Ethereum that was trading at $2,351, which is down around 13.69 percent.
According to data from Coinglass according to Coinglass’s statistics, the total amount of cryptocurrency liquidation over the last 24 hours total $464.32 million. Around 153,675 traders were liquidated in the previous 24 hours.
In particular, Bitcoin registered a total liquidation of $145.83 million over the last 24 hours. In contrast, Ethereum had a total liquidation amount of $123.24 million at the same time.
The scene behind the curtain:
After two years of a bull market, the cryptocurrency market has entered its annual bear market. The total market value of crypto is around $1.64 trillion and has dropped about 11 percent over the last 24 hours.
Source: Google Trend News