Bitcoin trading positions account for $73.05 million of all liquidations
According to data from Coinglass, the crypto market saw a total of $340 million in liquidations in the past 24 hours, including $54.31 million in the past four hours. According to data from CoinMarketCap, the total value of the crypto market fell 4.98% to $2.07 trillion.
Bitcoin trading positions account for $73.05 million of all liquidations, according to Coinglass. The largest single liquidation order, worth $1.73 million in BTC/USDT, was placed on Bybit.
A drop in the Bitcoin price led to losses in altcoin markets as more than 116,067 traders were liquidated in the past 24 hours. A liquidation is initiated when a trader’s initial margin on a position is lost.
As seen on CoinMarketCap, Bitcoin and the majority of altcoins are currently losing value. Bitcoin declined by nearly 5% while the majority of altcoins, such as Cardano, Uniswap and Chainlink, are recording losses between 5% and 15% in the last 24 hours.
Dogecoin (DOGE) previously hit highs of $0.1799 on April 5, following the announcement of Elon Musk as its newest board member. Dogecoin had climbed from a low of $0.146, gaining more than 20% in response to Elon Musk/Twitter related news.
Presently, Dogecoin has erased its 24-hour gains, down 1.55% in the last 24 hours and up 7.14% since the last seven days.
Sentiment remains neutral
Bitcoin, the world’s leading cryptocurrency, slipped to a low of $44,419 from a high of $45,548 on April 6. The major cryptocurrency could mark the second straight day in the red after hitting a high of $47,201 on April 5. Bitcoin subsequently erased its weekly gains, down 5.1% over the past seven days. Despite the drop, the on-chain analytics company Saniment notes that there is significant buying optimism on social platforms.
The Crypto Fear and Greed Index that gauges market sentiment measured ”neutral” at press time. At press time, the index measured just 48/100, portraying neutral sentiment. Earlier, the index trickled into “greed” territory as Bitcoin rose above $47,000.
