GameStop

Bitcoin

With the sudden decline, the Bitcoin (BTC) price lost 3% of its value within minutes and fell to $ 68,500 at its bottom. 
It is estimated that the reason for the decline was the live organized by RoaringKitty, the most well-known influencer of GameStop shares. The live broadcast in question is followed by approximately half a million people and is also broadcast live on economic giant channels such as CNBC. 
During RoaringKitty's live broadcast, GameStop shares fell sharply, bringing the influencer's total stake to $235 million. The shares in question can be considered equivalent to memecoins in the cryptocurrency industry. 
<img fetchpriority="high" decoding="async" class="alignnone size-full wp-image-144973" src="https://www.bitcoinsistemi.com/wp-content/uploads/2024/06/BTCUSDT_2024-06-07_21-22-47.png" alt="" width="1342" height="792"> 
In addition, the data shows that there has been a heavy liquidation of approximately 300 million dollars in the cryptocurrency market in the last hour. $285 million of the liquidations are in long positions and the rest are in short positions. However, it is noteworthy that a significant portion of the liquidations are in other altcoins such as Bitcoin, Ethereum, Dogecoin, Solana. 
<figure id="attachment_144974" aria-describedby="caption-attachment-144974" style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" class="size-full wp-image-144974" src="https://www.bitcoinsistemi.com/wp-content/uploads/2024/06/likidasyon-altcoinler.png" alt="" width="982" height="447">
 <figcaption id="caption-attachment-144974" class="wp-caption-text">
 Table showing the liquidations in the last hour.
 </figcaption>
</figure> 
It is thought that most liquidations occurred in low market value memecoins. 
The liquidation amount in Bitcoin is limited to 44 million dollars. 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/breaking-bitcoin-price-plummeted-below-69000-what-caused-the-decline-here-is-the-liquidation-data/">BREAKING: Bitcoin Price Plummeted – Below $69,000! What Caused the Decline? Here is the Liquidation Data</a>

BREAKING: Bitcoin Price Plummeted – Below $69,000! What Caused the Decline? Here is the Liquidation Data

Bitcoin Sistemi EN

Other articles published on Jun 7, 2024

Whales Make Profitable Moves by Following Market Trends

BlockDAG – Top Layer 1 Crypto with 30,000x ROI Forecast & Recent Keynote 2 Gone Viral; Updates on...

Ethereum Classic Offers Unique Blockchain Features

Bitdeer Acquired Desiweminer To Support Technological Roadmap

Toncoin Prices Surge Significantly

New ProShares Spot Ethereum ETF Was Filed Form 19b-4 to Trade on NYSE

Join our free newsletter for daily crypto updates!