Bitcoin Plunges to $65K, Altcoins Bleed 10%-20% as Week Turns Ugly
How much total value was liquidated from leveraged derivatives positions in the crypto market over the past week?
Over the past week, the total value liquidated from leveraged derivatives positions in the crypto market was over $870 million. This came as bitcoin (BTC) tumbled to its weakest price in four weeks on Friday and smaller cryptocurrencies saw even steeper declines. The swift tumble liquidated nearly $180 million of leveraged derivatives trading positions across all crypto assets over the past 24 hours, most of them longs betting on higher prices, CoinGlass data shows.
What was the lowest price Bitcoin fell to during the recent market downturn?
During the recent market downturn, Bitcoin fell to its lowest price in four weeks, reaching $65,100. This drop occurred during the U.S. trading session as the cryptocurrency lost over 2% in an hour. The decline in Bitcoin's value also affected other cryptocurrencies, with some experiencing steeper drops of 10%-20%.
What percentage decline did Bitcoin experience over the past seven days?
Bitcoin experienced a 7.5% decline over the past seven days.