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Largest Bitcoin liquidation since XRP verdict
Unpacking the impact of liquidations and market trends
Quick Take
Bitcoin slid to $29.2K, triggering its most significant long liquidation yet, amounting to roughly $85 million. Thus, today, July 24, marked the largest liquidation since the uproar caused by the XRP case two weeks prior.
On July 13th, amid the XRP case ruling on securities, shorts took a major hit, with losses accumulating to about $130 million.
Following the dramatic downturn, investors scrambled to push up the market the next day. However, this move resulted in a similar amount of long positions suffering heavy losses – also to the tune of roughly $130 million.
Throughout, Bitcoin traded at approximately $31,000, underscoring the volatility of the current market.
In the past 24 hours, investors have been liquidated to roughly $150 million.
Market Cap $1.53T
24H Volume $30.45B
