$930,000,000 'Liquidity Flush' Hits Bitcoin and Crypto Markets – Here's What's Next, According to Crypto Analyst Justin Bennett.
28 Oct 2021, 08:00
$930,000,000 ‘Liquidity Flush’ Hits Bitcoin and Crypto Markets – Here’s What’s Next, According to Crypto Analyst Justin Bennett
After tapping a new all-time high just one week ago, a sharp correction has sent the price of Bitcoin below the $60,000 mark.
A precipitous drop in BTC and the overall crypto markets over the past 24 hours has triggered liquidations across exchanges as traders became unable to meet margin requirements in their leveraged positions.
The dollar value of liquidated positions in the crypto markets surpassed $930 million in the last day, according to analytics firm Bybt.
Crypto investor and analyst Justin Bennett says that despite the sudden price drop, BTC appears primed to follow the same path it did last month.