Continued liquidation in the market

The cryptocurrency market slump continues with no signs of stopping and the recovery starting yet.

Bitcoin price dropped below $21,000, leaving about $1.25 billion in total liquidations over the past 24 hours.

The bloodbath continues in the cryptocurrency market, and it does not appear to be showing any signs of slowing down.

At the time of writing this article, Bitcoin is trading between $21,800 and $22,000, down 15% on the day.

The drop contributed to massive divestitures over the past 24 hours across the market, according to data from Coinglass.

The bulk of the liquidations come from bitcoin, with the value of liquidated bitcoin positions exceeding $600 million.

Ethereum is in second place with just under $480 million at the time of writing.

The price of Ethereum also fell below $1.1 thousand for a while but managed to recover to where it is currently trading at just under $1,200.
The largest single liquidation took place on the BitMEX platform where the liquidated position was an XBTUSD perpetual contract worth over $4.4 million.

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By @natalia-irish

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