$ 1.4 billion of Bitcoin was liquidated in one day, and the largest cryptocurrency fell to $ 33,000. Bitcoin, Ethereum, XRP and other coins worth $ 2.4 billion have been liquidated on derivative exchanges, according to data provided by Bybt.
This came after the largest cryptocurrency dropped to a one-week low of $ 33,447 on Bitstamp at 03:38 UTC.
Bitcoin fell 20.5 percent from its all-time high of $ 42,000 on January 8th.
Altcoins took an even bigger hit and fell to $ 1,010 after Ethereum failed to topple its all-time high of $ 1,448.
Positions being liquidated
Long positions make up 88.42 percent of the deletion ($ 2.16 billion).
Binance has the highest liquidation volume ($ 903.31 million), followed by Huobi ($ 523.53 million) and Bybit ($ 494.55 million).
BitMEX was only responsible for liquidated long contracts worth $ 132.11 million, while a trader recorded the largest one-time loss of $ 10 million.