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Bitcoin down 3.5% as perpetual funding rate turns negative; $180M in liquidations in 4 hours
Bitcoin has experienced a sharp 3.5% drop in price as altcoins bleed — resulting liquidations exceed $180 million.
Quick Take
- Bitcoin is down over 3.5% — resulting in over $180 million of liquidations in the past 4 hours in crypto.
- Roughly all the liquidations have occurred from long liquidations — 97.5% in the past 4 hours.
- The perpetual funding rate has turned negative on Binance, while the perpetual open interest for the BTCUSDT pair on Binance also dropped — over 5%.
Market Cap $1.55T
24H Volume $30.84B
