BTC Dips Below $67K: Liquidations Exceed $1.3 Billion Amid Market Turmoil
Bitcoin's recent plunge below $67K has triggered over $1.3 billion in liquidations, impacting multiple altcoins significantly.
Bitcoin has been unable to rebound in recent days, reaching a disappointing low of below $67,000. This is its lowest price since early November during the U.S. presidential elections. Following a brief spike close to $90,000 a week ago, Bitcoin faced a steep decline, dragging altcoins down with it.
In the past few hours, Bitcoin dipped further to around $66,900. Over a week, the cryptocurrency lost an astonishing $20,000. Other cryptocurrencies like ETH and BNB have also faced severe declines, with ETH dropping below $2,000 and BNB suffering a 10% hit to $660.
Altcoins like ZEC and XMR have plummeted as low as 19% and 12%, respectively.
Recent data indicates that liquidations have surged to over $1.3 billion within the last 24 hours, exacerbating the plight of over-leveraged traders. The situation remains dire as nearly 300,000 traders have been affected, with the highest individual position liquidated on the Aster platform, valued at over $11 million.
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