{"id":627859,"date":"2024-07-04T14:00:34","date_gmt":"2024-07-04T14:00:34","guid":{"rendered":"https:\/\/wncen.com\/?p=627859"},"modified":"2024-07-04T13:21:57","modified_gmt":"2024-07-04T13:21:57","slug":"bitcoin-cash-to-57000-traders","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-cash-to-57000-traders\/","title":{"rendered":"Crypto Market In Panic As Bitcoin Crash To $57,000 Sends 105,000 Traders To The Slaughter"},"content":{"rendered":"

The crypto market is in a state of panic with a market-wide crash that has shaken Bitcoin<\/a> and altcoins. With the Bitcoin price continuing to fall from support after support, tens of thousands of traders have lost their positions, leading to hundreds of millions of dollars in losses in just the last day alone.<\/p>\n

Crypto Market Liquidations Cross $290 Million<\/h2>\n

In the last 24 hours, the Bitcoin price<\/a> has been crashing, eventually falling below $57,000 before recovering again. However, the damage has already been done, with long traders suffering the brunt of the losses over the last day.<\/p>\n

Related Reading: 200 Million XRP Tokens On The Move, Where Are They Headed?<\/a><\/div>\n

According to data<\/a> from Coinglass, there has been $292.8 million worth of crypto liquidations in the last day. In total, 105,458 traders have been liquidated, with 88.61% of them being long traders. The majority of these liquidations have happened in the last 12 hours after Bitcoin fell from $61,000 to $57,000 with $204.97 million in liquidations.<\/p>\n

Bitcoin alone has seen $91.7 million in liquidations<\/a>, with second-largest cryptocurrency, Ethereum, following being with $69.86 million worth of liquidations<\/a>. The single largest liquidation event took place on the Huobi crypto exchange across the BTC-USD pair, where a single liquidation call saw $10.49 million lost.<\/p>\n

Binance, the largest crypto exchange in the world, recorded $122.67 million in liquidations, OKX exchange saw $89.83 million in liquidations, and Huobi exchange saw $42.07 million in liquidations. Coming in fourth and fifth place is Bybit and CoinEx at $23.04 million and $9.42 million, respectively.<\/p>\n

Bitcoin Recovery Could Change Trajectory Of Liquidations<\/h2>\n

As mentioned above, the crypto market liquidations have been mostly dominated by long trades given that the Bitcoin price has continued to crash<\/a>. However, with the price showing a tendency to bounce back up, rising above $57,900<\/a> at the time of this writing, shorts are beginning to feel the heat.<\/p>\n

Related Reading: Shiba Inu Starts July On A High Note: Burn Rate Surges 16,854%, Trading Volume Rises 170%<\/a><\/div>\n

Coinglass data shows that long liquidations have fallen from 88.61% in the last 24 hours to 56.48% in the last hour. If the price continues to rise, then short traders, spurred on by the bearish wave, could suffer more crashes from here.<\/p>\n

Despite positive sentiment being eroded, the Bitcoin daily trading volume<\/a> has seen a notable 50% jump, bringing it to $37.59 billion. So far, bulls seem to be developing support, which makes it the point to hold if the recovery is to continue from here.<\/p>\n

Bitcoin is currently trading at $57,909, with a 3.87% decline in the last day. It\u2019s down 5.23% on the weekly chart and 15.95% on the monthly chart.<\/p>\n

\"Bitcoin
BTC price looking for support at $57,000 | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The crypto market is in a state of panic with a market-wide crash that has shaken Bitcoin and altcoins. With the Bitcoin price continuing to fall from support after support, tens of thousands of traders have lost their positions, leading to hundreds of millions of dollars in losses in just the last day alone. Crypto Market Liquidations Cross $290 Million In the last 24 hours, the Bitcoin price has been crashing, eventually falling below $57,000 before recovering again. However, the damage has already been done, with long traders suffering the brunt of the losses over the last day. Related Reading: 200 Million XRP Tokens On The Move, Where Are They Headed? According to data from Coinglass, there has been $292.8 million worth of crypto liquidations in the last day. In total, 105,458 traders have been liquidated, with 88.61% of them being long traders. The majority of these liquidations have happened in the last 12 hours after Bitcoin fell from $61,000 to $57,000 with $204.97 million in liquidations. Bitcoin alone has seen $91.7 million in liquidations, with second-largest cryptocurrency, Ethereum, following being with $69.86 million worth of liquidations. The single largest liquidation event took place on the Huobi crypto exchange across the BTC-USD pair, where a single liquidation call saw $10.49 million lost. Binance, the largest crypto exchange in the world, recorded $122.67 million in liquidations, OKX exchange saw $89.83 million in liquidations, and Huobi exchange saw $42.07 million in liquidations. Coming in fourth and fifth place is Bybit and CoinEx at $23.04 million and $9.42 million, respectively. Bitcoin Recovery Could Change Trajectory Of Liquidations As mentioned above, the crypto market liquidations have been mostly dominated by long trades given that the Bitcoin price has continued to crash. However, with the price showing a tendency to bounce back up, rising above $57,900 at the time of this writing, shorts are beginning to feel the heat. Related Reading: Shiba Inu Starts July On A High Note: Burn Rate Surges 16,854%, Trading Volume Rises 170% Coinglass data shows that long liquidations have fallen from 88.61% in the last 24 hours to 56.48% in the last hour. If the price continues to rise, then short traders, spurred on by the bearish wave, could suffer more crashes from here. Despite positive sentiment being eroded, the Bitcoin daily trading volume has seen a notable 50% jump, bringing it to $37.59 billion. So far, bulls seem to be developing support, which makes it the point to hold if the recovery is to continue from here. Bitcoin is currently trading at $57,909, with a 3.87% decline in the last day. It\u2019s down 5.23% on the weekly chart and 15.95% on the monthly chart. Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":627892,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,656,679,1119,89185,1122,1144,78790,6664,15561,10923,14690,1558,1564],"class_list":["post-627859","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-adoption","tag-crypto-market","tag-crypto-news","tag-cryptocurrency","tag-cryptocurrency-market"],"acf":[],"yoast_head":"\nCrypto Market In Panic As Bitcoin Crash To $57,000 Sends 105,000 Traders To The Slaughter<\/title>\n<meta name=\"description\" content=\"The crypto market is in a state of panic 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Market In Panic As Bitcoin Crash To $57,000 Sends 105,000 Traders To The Slaughter","url":"http:\/\/wncen.com\/news\/bitcoin\/bitcoin-cash-to-57000-traders\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin\/bitcoin-cash-to-57000-traders\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Bitcoin-2.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Bitcoin-2.jpeg?fit=1792%2C1024"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin news","bitcoin price","btc","btc news","btc price","btcusd","btcusdt","crypto","crypto adoption","crypto market","crypto news","cryptocurrency","cryptocurrency market"],"dateCreated":"2024-07-04T14:00:34Z","datePublished":"2024-07-04T14:00:34Z","dateModified":"2024-07-04T14:00:34Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Market In Panic As Bitcoin Crash To $57,000 Sends 105,000 Traders To The Slaughter\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin\\\/bitcoin-cash-to-57000-traders\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin\\\/bitcoin-cash-to-57000-traders\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/Bitcoin-2.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/Bitcoin-2.jpeg?fit=1792%2C1024\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\",\"crypto\",\"crypto adoption\",\"crypto market\",\"crypto news\",\"cryptocurrency\",\"cryptocurrency market\"],\"dateCreated\":\"2024-07-04T14:00:34Z\",\"datePublished\":\"2024-07-04T14:00:34Z\",\"dateModified\":\"2024-07-04T14:00:34Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Bitcoin-2.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/627859"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=627859"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/627859\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/627892"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=627859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=627859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=627859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}