Bitcoin suffers worst financial loss in minutes
- 4th January 2021
- Posted by: Hakeem
- Category: Crypto
Bitcoin just suffered one of the worst plunge seen in financial history as it lost about $7,000 in value, plunging from $34,000 to $27,000 in minutes.
This is one of the fastest 20% market correction seen in financial history.
The result stunned so many traders and investors who overleveraged on the prevailing bullish trend in the Bitcoin market.
“$190,000,000 (in long positions) were liquidated on Binance within 10 minutes. Largest value to date,” Glassnode commented alongside a chart showing Binance liquidations.
At the time of writing, Bitcoin traded at $30,996.19 with a daily trading volume of $82,311,674,405. Bitcoin is down 6.74% in the last 24 hours.