Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnAISquareMore
Crypto Liquidations Reach $360M as Bitcoin Price Plummets

Crypto Liquidations Reach $360M as Bitcoin Price Plummets

CointimeCointime2024/05/02 10:01
By:Cointime

The cryptocurrency market experienced a sharp downturn on April 30, with Bitcoin leading the plunge and dropping below $60,000, resulting in significant liquidation for crypto traders. Data from CoinGlass showed that long traders faced losses of $246 million within 24 hours, with nearly $360 million liquidated across the market. The market has slightly recovered, but traders on both the long and short sides saw combined losses of $8 million in the past four hours alone, with analysts attributing the market decline to decreased demand for Bitcoin ETFs and a slowdown in Bitcoin demand among institutional investors.

0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!

You may also like

CandyBomb x DEBIT: Trade to share 45,000 USDT

Bitget Announcement2026/09/01 13:00

Bitget Will Support the BounceBit (BB) Contract Swap

Bitget Announcement2026/09/01 08:00

Hold USDGO for dual perks, earn up to 30%+ APR!

Bitget Announcement2026/09/01 02:00