$7.6 billion in crypto long positions liquidated in one hour as bitcoin plunges to $52,000
Partner offers
The Block may may earn a commission if you use our partner offers, at no extra cost to you.
$7.6 billion in crypto long positions have been liquidated over the past hour as bitcoin's price plunged to $52,000, data from bybt.com shows.
Bitcoin's price began to trend downwards early Saturday, but the steep plunge began around 3:00 UTC on Sunday.
Bitcoin's price dropped by more than 10% over the past hour, from $58,000 to below $52,000, during which around $4.3 billion in bitcoin long positions were liquidated.
As of the time of writing, bitcoin's price has bounced back to around $55,000.
Overall, $9.2 billion in crypto long positions have been liquidated in the last 24 hours.
TAGS
AUTHOR
Wolfie joined The Block’s news team in 2020 and switched to the research side in 2021 to focus on crypto mining analysis. Prior to The Block, he had been a journalist at CoinDesk for three years. Wolfie has a background in financial journalism.
See More
