Ethereum

Cryptocurrency

Bitcoin

Impact

Status

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin’s price has dropped below $63,000, leading to a surge in long liquidations.</li>
 <li>Ethereum and other major altcoins have also experienced significant drawdowns.</li>
</ul>
<p>The price of <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> has fallen below $63,000, causing a sharp increase in long liquidations.</p>
<p>Data indicates that over $47.9 million in Bitcoin long liquidations occurred on centralized exchanges in the last 24 hours. This is out of a total of $49 million in liquidated Bitcoin positions.</p>
<h2 id="market-impact">Market Impact</h2>
<p>The broader cryptocurrency market also faced significant liquidations, with a total of over $161 million. This includes around $153 million in long positions.</p>
<p><a href="https://crypto.ro/en/cryptocurrencies/ethereum/" rel="noopener noreferrer nofollow">Ethereum</a>, the second-largest cryptocurrency, was not spared from these liquidations. Over $29.1 million were liquidated, with $28.5 million being long positions.</p>
<p>Liquidations occur when a trader’s position is automatically closed due to a lack of sufficient funds to maintain it. This is usually triggered by market fluctuations that diminish their initial margin or collateral.</p>
<h2 id="current-cryptocurrency-status">Current Cryptocurrency Status</h2>
<p>At present, Bitcoin, the largest digital asset by market cap, is trading at a monthly low of $62,270, representing a 3.2% drop in the last 24 hours. This current price is 15% below the all-time high of $73,740 achieved on March 14.</p>
<p>Major altcoins have suffered larger drawdowns. Data reveals that Ethereum has fallen by 4% to $3,371 in the last day, while SOL has seen a 7% drop.</p>
<p>The GMCI 30 Index, which represents a selection of the top 30 cryptocurrencies, has decreased by 4% to 124.9 in the same period.</p>
<p>Bitcoin’s market dominance is currently at 51.5%, while Ethereum’s dominance stands at 17.3%. The global cryptocurrency market cap has reduced by about 3.5% in the last day, now standing at $2.38 trillion.</p>

Bitcoin Value Dips Under $63,000, Prompting Surge in Long Liquidations

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