Massive liquidation of Bitcoin caused Bitcoin Price to Fall Sharply

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Last Updated on September 7, 2022 by Bitfinsider

Ki Young Ju, CEO of Cryptoquant, stated that approximately 15K Bitcoin were moved over the course of ten days. While others were sent to the Kraken cryptocurrency exchange. An expert stated in a report that Bitcoin was trading around the $20K price level at the start of the day. It is, however, the iconic level for Bitcoin because it was its highest price during the 2017 bull market.

However, Bitcoin prices have fallen by about 6% in the last 24 hours. According to experts, the exchange whale ratio increased just before the BTC price drop. A significant increase suggests that whales are actively depositing Bitcoin on exchanges.

Deposits on exchange are increasing, with the global crypto market liquidating more than $360 million in the last 24 hours. The largest single liquidation, worth $2.57 million, was recorded on the Okex platform, according to Coinglass.

According to data, over $125.6 million in Bitcoin has been liquidated in the last 24 hours. A total of $107 million in BTC has been placed in the long position.

At the time of publication, Bitcoin was trading at an average price of $18,754. However, its 24-hour trading volume has increased by 10% to $39.9 billion.

The global crypto market has also dropped by more than 4% in the last day. It is now worth $948 billion.


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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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