![Over $320M in liquidations in the past 24 hours, as Bitcoin loses $20k support](https://cryptoslate.com/wp-content/themes/cryptoslate-2020/imgresize/timthumb.php?src=https://cryptoslate.com/wp-content/uploads/2023/01/bitcoin-insights.jpg&w=70&h=37&q=75)
Quick Take
- Due to the fallout of SIlvergate Capital and possible further contagion in the bank and financial sector.
- As a result, Bitcoin went below $20k and saw over $320 million of liquidations in crypto, while Bitcoin saw $120 million of liquidations.
- Futures’ long liquidation dominance shows the market was extremely long which shows the number of investors that were caught offside.
![Liquidations: (Source: Coinglass)](https://cryptoslate.com/wp-content/uploads/2023/03/liquidations.png)
![Futures Long Liquidation DOminance: (Source: Glassnode)](https://cryptoslate.com/wp-content/uploads/2023/03/long-dom.png)