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 9:45 p.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 — OKX, Binance, and Huobi — 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.
Mentioned in this article
Author 
Mike Dalton
Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada's West Coast.
Editor Editor 
Zaeem Shoaib Zuberi
Zaeem, an editor fascinated by business, finance, DeFi, and cryptocurrencies, holds a business and finance degree. His 14-year career in financial journalism spans sectors like banking, finance, insurance, and tech.
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