Shiba

Long

Bitcoin

Flash

Dogecoin

<ul>
 <li>At the time of writing, Bitcoin is trading at $62,280 as per data from CoinMarketCap.</li>
 <li>BTC’s price has fallen 7.48% in its most dramatic period after hitting a new ATH recently.</li>
</ul>
Very soon after reaching an all-time high (ATH) of $69,170, <a href="https://thenewscrypto.com/bitcoin-btc-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> is already seeing a dramatic decline in its price. Up until recently, the Bitcoin price has maintained a steady upward trajectory this week. BTC’s price has fallen 7.48% in its most dramatic and sudden drop since the beginning of the year, according to recent market statistics. At the time of writing, Bitcoin is trading at $62,280 as per data from <a href="http://coinmarketcap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>.
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="630" height="380" src="https://thenewscrypto.com/wp-content/uploads/2024/03/BTC_7D_graph_coinmarketcap.png" alt="" class="wp-image-93047" srcset="https://thenewscrypto.com/wp-content/uploads/2024/03/BTC_7D_graph_coinmarketcap.png 630w, https://thenewscrypto.com/wp-content/uploads/2024/03/BTC_7D_graph_coinmarketcap-300x181.png 300w" sizes="(max-width: 630px) 100vw, 630px">
 <figcaption class="wp-element-caption">
 Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>
 </figcaption>
 </figure>
</div>
A total of around $680 million has been liquidated in the previous 24 hours due to the unexpected price fall, according to statistics from <a href="https://www.coinglass.com/" target="_blank" rel="noopener noreferrer nofollow">CoinGlass</a>. The analytics platform estimates that there are 200,243 liquidated traders, with long traders bearing the most of the loss.
<h3 class="wp-block-heading" id="h-necessary-course-correction">Necessary Course Correction</h3>
With a total of $201.14 million, Bitcoin had the highest number of liquidations among the assets examined. Long traders were affected to the tune of $111.45 million, while short traders lost $89.69 million.
Following its first price surge over the $3,500 level since November 2021, <a href="https://thenewscrypto.com/ethereum-lags-behind-bitcoin-when-will-eth-hit-5000/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> also saw heavy liquidations. After 24 hours, the coin’s liquidation totaled $109.6 million, with $37.24 million coming from longs and $72.36 million from shorts.
The positive momentum of other cryptocurrency assets waned as well; $35 million and $33 million were the amounts liquidated by Dogecoin (DOGE) and Shiba Inu, respectively.
After a week of tremendous price gains, the recent pullback in Bitcoin is seen as a necessary course correction. Analysts are hopeful that the current pullback will act as a catalyst to propel the Bitcoin price to new levels.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/ethereum-lags-behind-bitcoin-when-will-eth-hit-5000/" target="_blank" rel="noopener noreferrer nofollow">Ethereum Lags Behind Bitcoin: When Will ETH Break Out Above $5,000?</a>

Bitcoin Witnesses Flash Sell-off After Hitting New All-time High

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