February 5, 2025, is another day worth remembering in the cryptocurrency world, with a single-day drop of a terrifying 14% for $BTC ! A single-day drop of 15% for $ETH ! On that day, 570,000 people faced liquidation, with a liquidation amount of 2.597 billion USD.
It is important to note that the current market value of Bitcoin is 1.5 trillion USD, comparable to Tesla's market value of 1.6 trillion USD. With such a large volume evaporating 14% in a single day, this undoubtedly dealt a heavy blow to the cryptocurrency market, and it is uncertain how many people have since exited the cryptocurrency world.
It is important to note that the current market value of Bitcoin is 1.5 trillion USD, comparable to Tesla's market value of 1.6 trillion USD. With such a large volume evaporating 14% in a single day, this undoubtedly dealt a heavy blow to the cryptocurrency market, and it is uncertain how many people have since exited the cryptocurrency world.