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Liquidations of Bitcoin and Ethereum futures contracts over the past half hour are among the reasons that have pushed Bitcoin below the $40,000 level and made Ethereum dive under $3,000.
As reported by Chinese crypto journalist Colin Wu, Coinglass has announced that a total of $110 million in Bitcoin and Ethereum trades has been liquidated across crypto exchanges.
A total of $57.25 million of this has been liquidated in Bitcoin and $38.03 in Ethereum. The flagship cryptocurrency is now changing hands at $39,821, and Ethereum is trading slightly below $3,000, although both BTC and ETH are struggling to recover.
BTC has fallen by 2.35% in the past 15m. According to coinglass, the liquidation in the past half an hour has reached $110 million, of which $57.25 million in BTC and $38.03 million in ETH. BTC once fell below $40,000, and ETH once fell below $3,000.
— Wu Blockchain (@WuBlockchain) January 10, 2022Advertisement
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