Bitcoin and Ethereum Tank as Crypto Liquidations Top $150 Million - Decrypt
05/10/2024 15:13
Both Bitcoin and Ethereum plunged early Friday, prompting a wave of crypto long positions to be liquidated.
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Go to Alpha ReportsThe prices of Bitcoin and Ethereum both plunged Friday morning, prompting a fresh wave of long position liquidations that pushed total crypto liquidations above $150 million over the past 24 hours, per CoinGlass.
Bitcoin dropped by more than $2,000 in an hour, falling from a price above $63,000 to a daily low of $60,890, according to CoinGecko. It has since rebounded slightly to $61,130 as of this writing, and is down more than 1% on the day.
Meanwhile, Ethereum is down by 2% over the last day, falling from $3,027 to a low of $2,927 alongside Bitcoin's plunge. It's up slightly since to $2,940, but still is down lower than it's been since May 1.
Editor's note: This story is breaking and will be updated with additional detail.
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