From CryptoPotato · By Jordan Lyanchev
Bitcoin has nosedived again in the past hour or so, dumping below $81,000 for the first time since September 21, when it broke out.
The liquidations have skyrocketed once again, exceeding $480 million in the past hour alone. As expected, the majority is from long positions.
Cryptopotato reported yesterday that BTC crashed by $2,000 within 20 minutes, which was rather unexpected. It came after the US government transferred a portion of its crypto holdings to Coinbase Prime.
At the time, the cryptocurrency fell below $84,000 and managed to hold at around that level for hours.
However, the landscape worsened in the past several hours, with the asset tanking below $81,000. This also coincided with a new BTC transfer from the US government, according to data from Lookonchain. This one was even more interesting, as the moved bitcoin in question appears to have originated from the Bitfinex hack.
The altcoins have followed suit. ETH, which traded above $2,700 until 48 hours ago, is now down to $2,450.
XRP was rejected at $1.50 and has dumped to $1.34 as of now. Notable losses also come from SOL, HYPE, DOGE, and others.
Naturally, the total value of wrecked positions has jumped a lot. Data from CoinGlass shows that over $45wiped out has been wiped-out in the past hour alone. Almost all of it was from longs.
The amount is up to nearly $900 million on a 24-hour scale. The total number of liquidated traders is over 150,000.
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