• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
Bitcoin

Crimson Tide: $1 Billion Erased In Liquidations As Bitcoin Dives To 2-Month Low

Christian Encila
by Christian Encila
2 years ago
·
Posted in Bitcoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin and other cryptocurrencies plummeted early on Friday morning, with digital assets continuing to wallow at miserable levels over the past several weeks. Divergent opinions exist among the market players regarding what will happen next.

Are things likely to worsen on the cryptocurrency market? Or, will there be a turnaround following today’s major setback?

According to CoinMarketCap data, Bitcoin dropped 7.02% in the last 24 hours to $26,819 in early morning Asian trading, recording a weekly loss of 9%. The leading cryptocurrency touched a two-month low of $25,409 on Friday morning.

$1 Billion Lost In Short Span Of Time

Traders lost $1 billion in the last 12 hours due to liquidations, according to data from Coinglass, as digital asset markets experienced one of their worst sell-offs of the year.

Source: Coinglass

Bitcoin Traders Dealt A Heavy Blow On Long Bets

Bitcoin was able to climb to a little past the $29,000 level before hitting a two-month low, Friday. Similarly, Ethereum (ETH) experienced a significant decline, reaching a low of approximately US$1,550, before recovering to a level just below US$1,700.

At the time of writing, Bitcoin was trading at $26,492, down 7.3% in the last 24 hours, and sustaining nearly 10% in losses in the last seven days, data from Coingecko shows.

Related Reading: Crypto Analytics Firm Has Eyes On This Wild Memecoin After Exploding 16,000%

Other significant cryptocurrencies in the top 10, excluding stablecoins, were not immune to the day’s declines caused by macroeconomic variables.

Long positions, which are bets on price increases, were eliminated to the tune of $821 million, according to CoinGlass data, as traders swiftly ran for the exits.

Bitcoin retreats to the $26K territory today. Chart: TradingView.com

The largest amount of losses were sustained by Bitcoin traders, who liquidated long positions worth approximately $498 million, followed by ether (ETH) traders who lost $302 million. The XRP token of Ripple fell 12.5% to $0.5136, for a weekly loss of 18.8%.

Biggest Liquidation Since June Last Year

Liquidations arise when an exchange closes a trader’s leveraged stake due to insufficient funds (margin) as asset prices decline, resulting in additional losses and price decreases.

Related Reading: ChatGPT Maker Is Reportedly About To Go Bankrupt – Bad News For Crypto?

Coinalyze data reveals that this represented the biggest number of Bitcoin liquidations in a 24-hour timeframe since June 2022, in the midst of collapsing foreign currencies, Chinese economic concerns, soaring bond yields and hawkish meeting minutes from the U.S. Federal Reserve.

Meanwhile, adding to the gloomy mood in Bitcoin, The Wall Street Journal reported on Friday that Elon Musk-founded rocket business SpaceX wrote down the value of its Bitcoin assets by a total of $373 million in the previous 24 months.

In the past twenty-four hours, the total crypto market capitalization decreased by 5.70% to $1.07 trillion, which is near the psychologically significant $1 trillion threshold.

Featured image from Kryolan

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christian Encila

Christian Encila

Follow

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Full Profile

Related Posts

Bitcoin

Is A Bitcoin Avalanche Coming? Samson Mow Sees ‘Suddenly’ Adoption Phase Ahead

47 minutes ago
Bitcoin

Bitcoin Negative Divergence Hints At Imminent Selling Pressure—Is ‘Uptober’ Under Threat?

13 hours ago
Bitcoin

Fed Chair Choice May Be Bitcoin’s Biggest Bull Trigger, CEO Says

1 day ago
Liczba milionerów kryptowalutowych wzrosła

Liczba milionerów kryptowalutowych wzrosła o 40%. Rynek przekracza 3,3 biliona dolarów

3 days ago
Bitcoin

Bitcoin To Retain Bullish Bias If Price Holds Above $114K — Here’s Why

6 days ago
Bitcoin LTH Profitability Outpaces STHs: Is A New Bullish Phase About To Commence?

Bitcoin LTH Profitability Outpaces STHs: Is A New Bullish Phase About To Commence?

1 week ago

Premium Sponsors

Press Releases

  • 上線倒計時:僅剩25天可搶購 Snorter Bot 代幣

    2 days ago
  • 加密錢包掀起發幣熱潮 Best Wallet...

    4 days ago
  • Bitcoin Hyper

    ChatGPT предсказва следващата 1000x...

    5 days ago
  • Snorter надхвърли $4 милиона след...

    6 days ago
  • Experience the Next Chapter of Pickleball with the $PKL Token Presale.

    Experience the Next Chapter of Pickleball with the $PKL...

    1 week ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.