Crypto Liquidations Hit $160M as Bitcoin Price Falls Below $60,000

This post was originally published on Coinspeaker

Bitcoin price slip comes as spot Bitcoin ETFs recorded another major net outflow.

Bitcoin (BTC) has been facing intense price fluctuation in the last few weeks. The coin is currently trading at $60,281.10 with a 3.7% price drop in the past 24 hours.

Before cresting at this point, Bitcoin had slightly slipped below $60,000. Expectedly, this Bitcoin price decline has triggered a ripple effect for other digital currencies including Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), and other meme coins as they have equally facing intense drawdowns.

$162.22M Liquidated in 24 Hours

Furthermore, the crypto industry has seen a series of liquidations as investors attempt to secure the value they have left on their crypto holdings. According to CoinGlass data, leveraged long positions have known better days than the last 24 hours. During this period, more than 56.670 traders were liquidated, taking with them $162.22 million.

Top cryptocurrency exchanges including Binance, OKX, and HTX (formerly Huobi) saw a collective liquidation of $44.13 million liquidation in the long position. Noteworthy, Binance is leading the group with a total liquidation of $15.63 million. However, the largest single liquidation in the last 24 hours, valued at $4 million, was from the

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