The currency $BTC fell to below the $81,000 level, in a rapid drop that pushed pressure back onto the digital currency market over the past few hours.
Market data showed that around $450 million worth of open positions were liquidated in just 60 minutes, in a sharp sell-off that hit traders on both sides of the bets.
This amount of liquidations indicates that the move was not calm; rather, it came with violent volatility and a rise in risk within the market.
So far, the direct reason behind this drop has not become clear, and nothing has been issued to confirm that a single specific factor is behind it. What is certain is that $BTC has lost the $81,000 level, which was a threshold traders had been monitoring.
The most important question remains: will the price hold below this level and extend the losses, or will it quickly move back above it? But liquidations of this magnitude often leave a clear impact on liquidity in the short term.
Press $BTC to trade
$BTC
Someone else beat you to it—follow along. Enter your profile and stick with the ones who read before the news spreads.