Andrew Chen, head of a16z’s $600 million Game Fund One, stirred up the community with his announceme
Skip to content
AZC.News
en EN
BTC Coin BTC
-5.09%
ETH Coin ETH
-5.80%
USDT Coin USDT
-0.04%
BNB Coin BNB
-4.34%
SOL Coin SOL
-7.95%
USDC Coin USDC
-0.01%
XRP Coin XRP
-3.91%
DOGE Coin DOGE
-9.63%
ADA Coin ADA
-7.16%
AVAX Coin AVAX
-9.10%
BTC Coin BTC
-5.09%
ETH Coin ETH
-5.80%
USDT Coin USDT
-0.04%
BNB Coin BNB
-4.34%
SOL Coin SOL
-7.95%
USDC Coin USDC
-0.01%
XRP Coin XRP
-3.91%
DOGE Coin DOGE
-9.63%
ADA Coin ADA
-7.16%
AVAX Coin AVAX
-9.10%
Search...
Home > News
Published: 02/04/2024
-
Author: Leexim
Bitcoin’s Drop to $65,000 Triggers Strong Liquidation Wave
Bitcoin's sudden 5% flash crash wiped out over $165 million in leveraged positions, shaking trader confidence and impacting the broader cryptocurrency ecosystem.
Azcnews
Table of Contents
Rapid fluctuations in the market have caused significant losses. Bitcoin’s price plummeted from $69,450 to $65,970 in less than 30 minutes, resulting in a loss of 5%.
This sudden drop triggered the liquidation of over $165 million for leveraged traders, especially affecting Bitcoin and Ethereum holders, with total liquidations exceeding $90 million la. At the same time, Dogecoin and Solana traders also faced millions of dollars in losses, demonstrating the widespread impact of Bitcoin’s price fluctuations on the market.
Along with the Bitcoin blitz, cryptocurrency exchange-traded funds (ETFs) have seen significant financial fluctuations, with net inflows reaching $86 million. While BlackRock’s ETF recorded the highest net capital inflows, Grayscale’s GBTC faced significant capital outflows, demonstrating investor sentiment at this time.
✅ April 1 net outflows for U.S. Bitcoin ETFs w/ -$88 million, primarily due to -$303m outflow by $GBTC 👇 $IBIT $FBTC $ARKB $BITB $BRRR $BTCO $HODL $EZBC $BTCW pic.twitter.com/JO1YlDy1UL
— HODL15Capital 🇺🇸 (@HODL15Capital) April 2, 2024
Additionally, stablecoin Tether experienced a brief period of divergence from the dollar exchange rate, adding to the instability in this turbulent market. The temporary cause of this instability for Tether remains unclear, with speculation surrounding errors in data tracking or sudden shifts in the market.
ETFs and Tether react to market fluctuations
The impact of this event on traders and markets is remarkable. It highlights the potential dangers of using leverage in a volatile cryptocurrency market. The rapid liquidation of more than $165 million in positions has served as a warning to traders about the use of their investment assets, especially in a market known for its sudden and strong fluctuations.
Related: Tether Acquires $627 Million Worth of Bitcoin in Q1 2024
Additionally, the reaction of ETFs and the temporary outage of Tether have highlighted the relationship between different aspects of the crypto ecosystem, where volatility in one segment can comprehensive impact.
Liquidation Heatmap
Liquidation Heatmap
Conclude
Bitcoin’s sudden 5% price drop and the liquidation of $165 million worth of leveraged positions have highlighted the volatility of the cryptocurrency market and the hidden dangers behind the use of leverage. The impact of this event has also spread to ETFs and stablecoins, illustrating the far-reaching consequences that significant price movements can have on the financial landscape.
As the market recovers, both traders and investors need to remember the importance of a prudent trading strategy and careful market analysis in an unpredictable cryptocurrency environment.
Read More
2.0/5
(1 vote)
Leave a Reply
Your email address will not be published. Required fields are marked *
Comment *
Twitter
Telegram
Name
Save my name, email, and website in this browser for the next time I comment.
LATEST
Azcnews Breaking
News | Altcoin | Editor Choice 02/04/2024
Burnt (XION) Successfully Raises $25 Million in Series A Round
Blockchain layer-1 project Burnt (XION) has announced a successful $25 million Series A funding round from seasoned investors such as Multicoin and The Spartan Group.
Azcnews Breaking
News | Blockchain | Editor Choice 02/04/2024
a16z Injects $30 Million into Gaming-Related Startups
Andreessen Horowitz (a16z), a leading venture capital firm in the technology and cryptocurrency space, has tapped into the significant potential of the gaming market by deciding to invest $30 million in startups related to this sector.
Azcnews Breaking
News | Editor Choice | Policy & Regulations 02/04/2024
TRON Foundation Asserts Strongly Against SEC Lawsuit
The Tron Foundation, the organization behind the Tron blockchain layer-1, has requested the federal court in New York to dismiss the lawsuit filed against them by the U.S. Securities and Exchange Commission (SEC).
Azcnews
News | Altcoin | Editor Choice 02/04/2024
The Number of Ethereum Investors is Growing Steadily
In the past 24 hours, Ethereum (ETH) experienced a decline of over 2%, with market indicators signaling a bearish trend.
Azcnews Breaking
News | Altcoin | Editor Choice 02/04/2024
Tether Acquires $627 Million Worth of Bitcoin in Q1 2024
In the first quarter of this year, Tether, the company issuing the stablecoin USDT, has acquired nearly 9,000 BTC, equivalent to $627 million USD, raising its holdings of Bitcoin to $5.2 billion USD.
Top views
1
Guide to Participating in Eclipse Testnet
2
NIM Network Announces Airdrop of 90 Million Tokens
3
Standard Chartered Forecasts Bitcoin to Rise to $250,000
4
How to Participate in the Backpack Airdrop
5
Bitcoin Halving Chart History Analysis
6
What is ChatAI? Information about CHATAI Token?
7
Solana Earns the Title of Ethereum Slayer
8
The Resurgence of “RWA” Token Category
9
Square Enix Invests in Web3 Platform and NFT HyperPlay
10
AltLayer Introduces ALT Staking Feature
About AZC.News
About Us
Contact Us
Privacy Policy
Terms of Services
Market
Analytics
Top Crypto Exchange
Top Cryptocurrency
Knowledge
Research
Glossary
Earn
Airdrop
Social Community
Copyright 2024 © AZ Coiner
