Bitcoin and Ethereum crash by more than 12% in 6 minutes as more than $1B of positions gets liquidated


Bitcoin and Ethereum crashed by 12% and 20% respectively in about 6 minutes as more than $1 billion of positions were liquidated.

According to market data site Bybt, more than 72,422 people were liquidated in the last 24 hours. The largest single liquidation order worth $10 million happened on BitMEX’s Bitcoin perpetual swap.

Bitcoin’s price went from $11,930 to $10,550. By press time, the price has now recovered to about $11,400.

Ethereum crashed from $408 to $326. By press time, the price has now recovered to about $380.

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.





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