Cryptocurrency

Bitcoin

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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/sharp-rise-in-cryptocurrency-liquidations-as-market-swings-intensify" rel="noopener noreferrer nofollow">Sharp Rise in Cryptocurrency Liquidations as Market Swings Intensify</a><br></p>
<p style="text-align: justify">The cryptocurrency market has been experiencing heightened volatility, leading to a substantial increase in the liquidation of futures positions. On March 19, <a href="https://en.bitcoinhaber.net/bitcoin-analyst-willy-woo-projects-4-8-million-price-in-global-dominance-scenario" rel="noopener noreferrer nofollow">Bitcoin</a>‘s price plunged below $64,000, marking a 5.49% decline over the past day, with the digital currency trading at $63,964.</p>
<h2 id="liquidation-spike-in-the-futures-arena">Liquidation Spike in the Futures Arena</h2>
<p style="text-align: justify">A recent price downturn triggered a massive liquidation of long futures contracts on centralized exchanges. Blockchain analytics platform CoinGlass reported that the turbulent market led to over $162 million in Bitcoin futures being wiped out, predominantly in long bets totaling $134 million.</p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/ethereum-foundations-otc-crypto-maneuver-raises-questions" rel="noopener noreferrer nofollow">Ethereum</a>, ranking second in market value, faced a 9.5% value decrease the previous day, with its price at $3,279. Another significant loss was seen with <a href="https://en.bitcoinhaber.net/solana-price-analysis-will-sol-coin-reach-new-highs-in-december" rel="noopener noreferrer nofollow">Solana</a>, a growing altcoin, which experienced a loss exceeding 12%.</p>
<p style="text-align: justify">The entire cryptocurrency market saw over $515 million in long contracts liquidated in a single day, amounting to total liquidations of $620 million across various exchanges. Such forced closures of investor positions occur when market fluctuations lead to insufficient funds to cover potential losses, eroding the initial margin.</p>
<h2 id="current-crypto-market-dynamics">Current Crypto Market Dynamics</h2>
<p style="text-align: justify">Bitcoin’s upcoming halving and sales from Grayscale’s ETF fund have applied downward pressure on its value. A major market correction recently unfolded, influenced by US CPI data and speculation around interest rate changes.</p>
<p style="text-align: justify">Analysts suggest that these market corrections may be beneficial for the long-term stability of the cryptocurrency sector. With the Bitcoin halving event approaching and ongoing GBTC sales, the market may continue to face significant impacts.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/sharp-rise-in-cryptocurrency-liquidations-as-market-swings-intensify" rel="noopener noreferrer nofollow">Sharp Rise in Cryptocurrency Liquidations as Market Swings Intensify</a></h5>

Sharp Rise in Cryptocurrency Liquidations as Market Swings Intensify

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