In Brief :
- Crypto market traders experienced liquidations amounting to $875 million in the past 24 hours.
- Bitcoin and Ethereum both experienced double-digit percentage drops as they fell past support levels.
- FTX token has dropped by over 70% following the news that the exchange would be acquired by Binance.
The crypto market has taken suffered massive bleeding in the past 24 hours. The global market cap tanked by 6.8% to $950 billion. Over $875 million has been liquidated in the past 24 hours, as bitcoin drops by 11% to around $18,400.
Bitcoin suffered the most in terms of liquidations, with traders losing roughly $233 million in BTC. Ether followed with $175 million in liquidations. The Solana and FTX tokens, both of which have been in the news lately, followed with $41.5 million and $28.4 million in liquidations.
Source : beincrypto.com/crypto-market-liquidations-top-875m-last-24-hours-bitcoin-price-sheds-11/ by Rahul Nambiampurath - November 09, 2022