More Than 57,000 Traders Liquidated As Bitcoin Declines Below $22,000

The price of bitcoin has once again fallen below $22,000 once more. As expected, it has come with its own consequences for those in the crypto market. Most prominent have been in the liquidations, which have ballooned in the last 24 hours. With the most recent crash, more than 57,000 traders have seen their positions liquidated.

Bitcoin Dip Triggers $151 Million Liquidations

Over the last 24 hours, more than 57,000 traders have been liquidated in the crypto market. This has led to a total of $151 million in assets liquidated over the last day. The most prominent of these has been the Ethereum liquidations. 

Ethereum, which had taken the lead during the market recovery and rallied higher than $1,600, had led the short liquidations and now, continues to lead in terms of long liquidations. Ethereum liquidations alone have crossed $70 million in the last 24 hours and $20 million in the last 12 hours. 

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Others include bitcoin, which has only seen half the volume of liquidations compared to Ethereum. In total, there have been more than $30 million in bitcoin liquidations in the past day, accounting for 1.38K BTC. This makes it the second-largest liquidation for a digital asset in the last day. The majority of liquidations have been from long traders at 63.96%. 

BTC price falls below $22,000