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<ul><li>Over $87.45 million in Bitcoin was liquidated in the last 24 hours.</li><li>BTC price was down by 5% in a day.</li></ul>Following prominent crypto exchanges such as the <a href="https://thenewscrypto.com/coinbase-announces-stopping-payments-from-silvergate-bank/" rel="noopener noreferrer nofollow">Coinbase announcement</a>, which made its distance with Silvergate bank, Bitcoin, Ethereum, and the rest of the cryptocurrency market have taken a significant blow. A sharp decline in the price of Bitcoin and across the global crypto market has sparked a flood of liquidations.Today, the March madness over the crypto market has seen a sudden plunge in the <a href="https://thenewscrypto.com/tag/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin price</a> after the initial appearance of the bad news on the likely collapse of cryptocurrency-related bank Silvergate. That triggered deluge of liquidations across the crypto markets.According to data from CoinGlass, more than $221 million in crypto assets were liquidated in just 12 hours. Also, the data shows that in the past 24 hours, 84,133 traders liquidated $255 million in cryptocurrency holdings.The most severely affected traders were those who were long-term holders of Bitcoin and Ethereum, with $76 million and $41 million in liquidations, respectively.<h3 id="sudden-shake-in-crypto-market">Sudden Shake in Crypto Market</h3>The largest crypto Bitcoin’s (BTC)price flew from $23K to $22K in a matter of minutes. At the time of writing, Bitcoin traded at $22,363 with a 24-hour trading volume of $34B. BTC was down by 5% in a day and 6.6% in a week. Also, the largest altcoin Ethereum (ETH) traded at $1,569, decreased by 4.5% in the last 24 hours and 5% in a week. ETH holds a trading volume of around $10M, as per data.Further, Elon Musk’s favorite cryptocurrency Dogecoin (DOGE) also facing massive liquidation. Around $4.77M DOGE coin liquidated by traders. At the time of writing, the memecoin’s price declined by over 6% in a day and 10% in a week.

Crypto Market Witnessed $221M Liquidation in Just 12 Hours

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