The highly volatile cryptocurrency market has experienced massive increases that resulted in approximately $ 1.8 billion in liquidation within 24 hours.
Intense and choppy motion
The cryptocurrency market is known for its intense price fluctuations. While BTC and most altcoins charted double-digit movements in both directions, this resulted in $ 1.74 billion of liquidity in the stock markets.
The leading cryptocurrency fell to $ 54,000 in just a few minutes yesterday with a strong correction. On the other hand, before falling to this level, BTC had risen to the level of $ 57,500.
Typically, much of the altcoin market suffered even more significant losses, as when BTC started a sharp move south.
Ethereum fell 12% from $ 2,040 to $ 1,800. XRP is down 18% and BNB is down 23%.
Soon, however, all these cryptocurrencies jumped up and regained most of the lost value. Some coins, such as Bitcoin, rose even more. BTC reached its all-time high of $ 57,900.
These high volatility led to huge losses for some investors. According to data from Bybt, the total liquidations on crypto exchanges in the last 24 hours equaled $ 1.74 billion. On a 12-hour scale, the amount is located north of $ 900 million.