Crypto Liquidations Over $300 Million, Bitcoin, Ethereum Dump Over 6%

Over the past 24 hours, the crypto industry has reportedly lost 6.8% in value, with more than $300 million in positions being liquidated. Over the past seven days, Bitcoin has lost about 4% in value. The asset is currently trading more than 70% below its all-time high. In the past 24 hours, Bitcoin liquidations totaled $83 million, according to data from Coinglass. At the same time, Bitcoin’s market cap has plummeted from nearly $900 billion at the start of the year to its current $387 billion, a 50% drop. Ethereum, on the other hand, lost more than 11% in 24 hours, and after a sharp drop, its value fell 11.7%, below $1,500 for the first time in weeks. That means the gains made in recent weeks on M&A expectations have vanished from the market. In the past seven days, the value of Ethereum has dropped by more than 7%, which is almost 70% different from ATH. The red candle also liquidated over $135 million in Ethereum positions.