Bitcoin

The post <a href="https://coinpedia.org/news/crypto-crash-230m-in-assets-liquidated-on-centralized-exchanges-in-24-hours-amid-market-volatility/">Crypto Crash: 230M in Assets Liquidated on Centralized Exchanges in 24 Hours Amid Market Volatility</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
Amidst a period of high volatility, Bitcoin has managed to maintain its position above $45,000. The ongoing recent drama over SEC’s X(Twitter) account hack has crashed Bitcoin price which came from $48,000 to $45,000, which is currently trading at $45,217. 
<img decoding="async" width="624" height="377" src="https://lh7-us.googleusercontent.com/GAMUl88mOwaiso1LzecmaVFym2xM4g4Q1FxigTv-e1VZjtkh0r0ZaKxU5QmgeliBMb3uti65xCYuy_Qca7ac3UpPK2TdbvAPrZhgkCyjjZ9SFKhJ5H9WYrbtGKsvpFhZajpiJ2H6itPrzj4u5VqUx8Y"> 
<h2 class="wp-block-heading" id="h-huge-liquidation-due-to-false-news">Huge Liquidation Due to False News</h2> 
The recent price fluctuations have resulted in the liquidation of over $90 million worth of leveraged Bitcoin positions. The total liquidations for all leveraged crypto assets reached a staggering $230 million, with the majority comprising long positions valued at $140 million. Short positions also faced significant losses, with $91 million being liquidated.&nbsp; 
As the excitement surrounding the potential approval of spot Bitcoin ETFs intensifies, annualized Bitcoin volatility has surged from a low of 42.88% in mid-December to a current level of 50.97%, marking a multi-week high for this metric. 
<h2 class="wp-block-heading" id="h-market-volatility-at-its-peak">Market Volatility at its Peak</h2> 
As the cryptocurrency market continues to exhibit volatility, the looming decision by the U.S. The Securities and Exchange Commission’s decision regarding spot bitcoin ETFs has sparked a frenzy of speculation. While some experts anticipate that the approval of such a fund could ignite a price surge, a recent report by CryptoQuant suggests that the market remains susceptible to sudden price corrections. 
<img decoding="async" width="624" height="168" src="https://lh7-us.googleusercontent.com/mo0v_o9WSFLbm4XKsHycEnhLT6-JoHXFOA5N5fO8hfAPWczgtt_SttaVzF17w-jpKNEA0V_-eR8UkzMypQDZli4qLkkEsiBzYscsxnAo-h8PJAYxRRTHIx_vnhzV0Qm2WBWjrBbiz8BUtXhCHoLWQ6s"> 
As the cryptocurrency market undergoes a period of volatility, the pending decision by the U.S. Securities Exchange Commission regarding spot bitcoin ETFs has sparked intense speculation. While some analysts predict that the approval of such a fund could trigger a price surge, a recent report by CryptoQuant has shed light on a potential risk.&nbsp; 
To conclude, the report highlights that unrealized profits among bitcoin holders have reached unprecedented levels, indicating that a price correction is not entirely out of the question despite mounting demand for digital currencies. The circulating supply of bitcoin in profit has reached a staggering multi-year high of 90.23%.

Crypto Crash: 230M in Assets Liquidated on Centralized Exchanges in 24 Hours Amid Market Volatility

Table of Contents

CoinPedia News

Other articles published on Jan 10, 2024

TD Sequential Indicator Signals Caution: Implications for Bitcoin

HashKey COO Reveals 10 HK Firms Eyeing Spot Crypto ETFs

SEC Account Breach Reveals Absence of Two-Factor Authentication – X Confirms

Berserk Season 4: Winds of War – A Season to Remember

Ripple CTO Jests at SEC After Regulator Loses Twitter Handle to Hackers

NoahArk Receives $2.4M Investment From EOS Network Ventures

Join our free newsletter for daily crypto updates!