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19 March 2024
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Over $1,142,000,000 in Crypto Liquidated in Just 24 Hours As Bitcoin Trades Below $40,000, According to Coinglass

Crypto futures trading information platform Coinglass says that over a billion dollars worth of crypto has been liquidated over the past 24 hours as Bitcoin (BTC) now trades below $40,000.

According to the Coinglass liquidation data, over 213,000 traders were liquidated over the last day at a combined value of over $1.14 billion.

Bitcoin leads the pack with $265.78 million worth of liquidations followed by Ethereum (ETH) and Solana (SOL) with liquidations worth $244.87 million and $24.98 million, respectively.

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Interoperability blockchain platform Polkadot (DOT) takes the fourth spot with $17.57 million worth of liquidated positions. Next up is decentralized finance payment network Terra (LUNA) with a total of $15.43 million in liquidations.

Further down the list are Cosmos (ATOM), Fantom (FTM), XRP, Near Protocol (NEAR), Cardano (ADA), Binance Coin (BNB) and Dogecoin (DOGE) – all of which have recorded liquidations of less than $12 million.

Source: Coinglass

Bitcoin is down nearly 10% on the day, causing most of the market to crash with it, as explained by widely-followed crypto analyst Michaël van de Poppe.

“After the US opened, we ran up, and then we started to nosedive again as the US equities also started to drop down.

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So, that dropped down, and we didn’t really reclaim $43,500, and that dropped down beneath $42,400. I stated that, most likely, we are going to nuke because we’re dropping back in the range [beneath $42,400], and then it starts to nosedive to the other side and most likely even accelerate further because of the impact of such a drop. 

That is actually what has been taking place.”

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