Over $320M in liquidations in the past 24 hours, as Bitcoin loses $20k support
Roughly 80% of liquidations were long, while Bitcoin liquidations accounted for $120 million in the past 24 hours
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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.
