According to data provided by CoinGlass, more than $423 million worth of crypto has been liquidated over the past four hours alone.
Overall, $714 million worth of crypto has been wiped out in 24 hours.
More than 163,000 traders have been liquidated in a single day, which is more than the entire population of Kansas City or Springfield.
The largest liquidation took place on Bitfinex with $8.21 million.
Alex DovbnyaEarlier today, the leading cryptocurrency plunged to yet another multi-month low of $82,455. The cryptocurrency is now officially in the bear market territory after plunging by more than 20% from its current all-time high of nearly $109,000 which was achieved all the way back in January.
Gamza KhanzadaevAccording to Santiment, key stakeholders have dumped 6,813 coins, which is the largest drop since last July. The firm has noted that Bitcoin's price performance tends to be correlated closely with the behavior of whales and sharks over the long term.
As reported by U.Today, Bitcoin ETFs recorded record-shattering outflows on Wednesday, and they are now on track to record their worst week ever. It remains to be seen whether this will end up being a trend.
Pseudonymous trader DonAlt believes that any close above the prior range low of $90,000 "is actually a good long setup."
Dan Burgin
Vladislav Sopov