Bitcoin slips below $39,000
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BTC fell below $39,000 as more than $100M worth of longs were liquidated over a one-hour time frame.
According to Benzinga, during Asian hours BTС saw a sharp selloff losing 4% of its value and falling to $38,905. Other altcoins (ETH, SOL, ADA) also suddenly dropped in prices. The market-wide sell-off turned into a big liquidation.
CoinGlass shows that there were $110 million worth of longs that were liquidated over a one-hour period: Bitcoin saw $31.81M worth of liquidations, Ethereum saw $31.41M, Solana saw $3.17M and Dogecoin saw $2.47M liquidated.
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The last time Bitcoin fell below $39,000 was on March 7th. Then cryptocurrency markets crashed over the weekend as the global market cap fell by 3.80%. BTC fell by 3.44% and was trading at $38,168.
Source: Benzinga
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