More than a billion dollars worth of crypto assets are being liquidated as Bitcoin (BTC) threatens to trade below $20,000 and print a low last seen in December 2020.
Cryptocurrency futures trading and information site Coinglass reveals that over $1.30 billion worth of BTC positions have been decimated in the last 24 hours.
Both bulls and bears were impacted by the crypto markets’ wild price swings as each camp suffered losses to the tune of hundreds of millions of dollars worth of crypto. Those who were betting on the market to find a bottom and recover endured the worst of the collapse as Coinglass shows that more than $823 million worth of long positions were annihilated in the past day.
Traders who believed the crypto