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Why the Bitcoin price just dropped 4% in a single hour, liquidating $20 million Why the Bitcoin price just dropped 4% in a single hour, liquidating $20 million

Why the Bitcoin price just dropped 4% in a single hour, liquidating $20 million

The Bitcoin price just dropped by more than four percent within one hour—from $9,224 to $8,851—after 52 hours of ranging with low volatility and volume.

Why the Bitcoin price just dropped 4% in a single hour, liquidating $20 million

Cover art/illustration via CryptoSlate

The Bitcoin price just dropped by more than four percent within one hour—from $9,224 to $8,851—after 52 hours of ranging with low volatility and volume.

The sudden drop led to the liquidation of $19.25 million on BitMEX and $1.5 million on Bitfinex based on statistics from Datamish dot com, causing a sizable long squeeze in a short period of time.

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