Bitcoin slips 3% as over 100,000 traders face $262 million liquidation

Other altcoins that plummeted included Solana and Dogecoin, the meme-crowd favorite.

Bitcoin slips 3% as over 100,000 traders face $262 million liquidation

During the early morning trading session, Bitcoin experienced a 3% loss before partially recovering to trade at $58.8K during the Asian trading session. Other cryptocurrencies that saw significant declines included Solana and Dogecoin, the popular meme coin. The selling pressure increased as Mt. Gox started returning more than 137,000 Bitcoin to creditors. Investors are uncertain about how much of the $8 billion worth of Bitcoin will be sold, and they are also evaluating the potential for U.S. and other authorities to dispose of seized Bitcoin. In the past 24 hours, 100,565 traders were liquidated, with a total liquidation value of $261.98 million. The largest liquidation order, worth $4 million, occurred on OKX – ETH-USD-SWAP . The global cryptocurrency market value has dropped by 3.62% over the last day to $2.17 trillion . Global investors are speculating about the potential outcomes if 81-year-old President Joe Biden succumbs to pressure and withdraws his candidacy for US reelection. Min…

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Founded Mainwave Digital Media, Temmy Samuel is a financial advisor and journalist, blending financial expertise with storytelling skills to simplify complex financial topics for readers and clients alike. Learn More About Temmy Samuel

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