Volatility in the crypto market has caused more than $400 million in liquidations over the past 24 hours, according to CoinGlass data.
Volatility over the past 24 hours has caused a spike in liquidations on centralized exchanges as bitcoin dropped below $67,000 and the broader crypto market followed suit.
Bitcoin positions took the brunt of the damage, with over $130 million in liquidations during the past 24 hours, $90 million of which were long positions. The wipeout of long positions came as bitcoin fell below the $67,000 mark, having begun trading above $71,000 yesterday. The largest cryptocurrency by market cap is down more than 4.2% over the last 24 hours, currently trading at around $66,500, according to The Block’s price page.Meanwhile, the GMCI 30 index, representing a selection of the top 30 cryptocurrencies, fell 6.8% to 143.40 in the past 24 hours, with the second-largest cryptocurrency, ether, dropping 6.5% to $3,319.
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