Ethereum

Solana

Long

Bitcoin

Impact

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin’s price dropped below $64,000 due to market volatility, leading to a surge in long liquidations.</li>
 <li>Ethereum and Solana also experienced significant downturns, contributing to over $515 million in liquidated long positions.</li>
</ul>
<h2 id="bitcoin-s-price-drop">Bitcoin’s Price Drop</h2>
<p>The price of <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> dipped below $64,000 during the early trading hours on Tuesday. This was primarily due to market volatility, resulting in a significant increase in liquidations of leveraged cryptocurrency positions.</p>
<p>The largest cryptocurrency by market cap saw a decrease in value of over 6% in the last 24 hours, trading at $63,116 at 5:10 a.m. ET. This price correction led to a significant liquidation of long positions on centralized exchanges.</p>
<h2 id="impact-on-other-cryptocurrencies">Impact on Other Cryptocurrencies</h2>
<p>The second-largest cryptocurrency, <a href="https://crypto.ro/en/cryptocurrencies/ethereum/" rel="noopener noreferrer nofollow">Ethereum</a>, also experienced a significant decrease of 9.5% over the last day, trading at $3,248 at 5:10 a.m. ET. SOL, the native coin of the Solana network, saw an even greater decrease, with its value sliding by over 12% during the same period.</p>
<p>The overall crypto market saw over $515 million in liquidated long positions over the last 24 hours. This contributed to a total of $620 million in liquidations across various centralized exchanges.</p>
<p>Liquidations occur when a trader’s position is forcibly closed due to insufficient funds to cover losses. This typically happens when market movements are unfavorable to the trader’s position, resulting in the depletion of their initial margin or collateral.</p>

Bitcoin Drops Under $64K: Volatility Triggering Surge in Long Liquidations

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