Ethereum

Bitcoin

April

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin and other cryptocurrencies experienced a sudden 5% drop in value on April 12, causing over $400 million in losses within an hour.</li>
 <li>The most significant liquidations occurred on Binance, with total liquidations reaching $860 million among 270,993 traders in the past 24 hours.</li>
</ul>
<p>Bitcoin and other cryptocurrencies experienced a sudden drop in value on April 12, causing significant losses for traders.</p>
<p>The price of <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> fell 5% from $68,341 to as low as $65,110 in less than 60 minutes.</p>
<h2 id="ethereum-follows-bitcoin-s-downward-trend">Ethereum Follows Bitcoin’s Downward Trend</h2>
<p>Ethereum, the second largest cryptocurrency by market capitalization, also experienced a decrease in value.</p>
<p>The value of <a href="https://crypto.ro/en/cryptocurrencies/ethereum/" rel="noopener noreferrer nofollow">Ethereum</a> dropped 8% from an opening of $3,553 to trade at $3,226.</p>
<p>This sudden decrease in value resulted in more than $417 million in leveraged positions being wiped out within one hour.</p>
<p>Over $77.93 million in Bitcoin longs and more than $63.35 million in Ethereum longs accounted for the majority of this figure.</p>
<h2 id="liquidations-on-binance-and-okx">Liquidations on Binance and OKX</h2>
<p>The most significant liquidations occurred on <a href="https://crypto.ro/en/exchange/binance/" rel="noopener noreferrer nofollow">Binance</a>, totaling $171 million.</p>
<p>Meanwhile, traders on the crypto exchange OKX experienced combined losses of $158 million.</p>
<p>Data shows that within the past 24 hours, total liquidations reached $860 million among 270,993 traders.</p>
<p>This crash occurred as U.S. stock markets dipped during the U.S. trading session after new data showed that inflation accelerated for a third consecutive month.</p>
<p>This hotter-than-expected CPI print further dashed hopes for Fed rate cuts this year amid fears that progress may be stalling in taming elevated price levels.</p>
<p>JPMorgan Chase CEO Jamie Dimon warned that “persistent” inflation, geopolitical tensions and the Fed’s Quantitative tightening efforts threaten an otherwise positive economic outlook.</p>
<p>Dimon stated that the market is likely to be weighed down by “persistent inflationary pressures, which may likely continue.”</p>

Crypto Market Rattles as Bitcoin Drops to $65K Triggering $400M Liquidation Shock

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