Nearly USD 500m in long positions were liquidated across the crypto market in just one hour on Wednesday, as the price of bitcoin (BTC) fell below the psychologically important USD 60,000 level, and ethereum (ETH) dropped below USD 4,000.
At press time (08:26 UTC), BTC was down by 7.5% for the past 24 hours and 3.3% for the past hour, trading at a price of USD 58,900. However, the current price is still markedly up from a low of USD 58,000 reached just after 08:00 UTC.... Read More: USD 500M Liquidated as Bitcoin Falls Below USD 60K, Ethereum Below USD 4K