Liquidations reach almost $130M as Bitcoin drops below crucial $25k level Liquidations reach almost $130M as Bitcoin drops below crucial $25k level
Bitcoin saw massive liquidations over the past four hours.
2 min read
Updated: Jun. 14, 2023 at 11:07 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Bitcoin lost approximately 3.10% of its market value on June 14, alongside significant liquidations in the crypto market, both over a four-hour period.
According to data from CoinGlass, $124.2 million in liquidations occurred over the four-hour period ending at 9:45โฏp.m. UTC.
Bitcoin accounted for $37.9 million of those liquidations, while Ethereum accounted for $55.3 million of those liquidations. Together, they accounted for about 75% of all liquidations.
XRP accounted for $4.1 million of all liquidations, while LTC accounted for about $2.9 million of all liquidations. Other cryptocurrencies individually accounted for $1.5 million of liquidations or less (notwithstanding the collective $8.1 million of liquidations among other tokens represented in the chart above).
More than 40,600 traders were liquidated over 24 hours.
Three exchanges โ OKX, Binance, and Huobi โ were responsible for most of the above liquidations. They saw $38.1 million, $36.8 million, and $27.8 million in liquidations, respectively. Together, they accounted for over 80% of all liquidations.
Bitcoin falls below $25K mark
Data from TradingView indicates that the price of Bitcoin fell 3.10% over 4 hours. The price briefly touched $24,922 before recovering to $25,908 as of 9:45 p.m. UTC.
Other top-ten cryptocurrencies also lost a comparable amount of value over 24 hours, based on CoinGecko data. ETH is down 3.2%, BNB is down 2.1%, XRP is down 8.5%, ADA is down 5.1%, DOGE is down 3.5% and TRX is down 1.6%.
The cryptocurrency market’s total capitalization is also down 3.4% over the past 24 hours and is currently valued at $1.06 trillion.
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Author 
Mike Dalton
Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada's West Coast.
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