During the day, margin positions of 400 thousand users of crypto-exchanges were liquidated
Traders lost more than $ 2.5 billion amid a sharp collapse in Bitcoin on Saturday night, according to Coinglass (formerly Bybt). The price of the first cryptocurrency at the moment dropped to $ 42 thousand, after which it rose to the current levels of about $ 47.8 thousand. Over the past day, the cryptocurrency has fallen in price by 15%.
In just 24 hours, the margin positions of 400 thousand traders were forcibly closed. The largest losses fell on transactions with bitcoin – over $ 1 billion. Users who traded Ethereum lost $ 621 million. The altcoin price at the moment was falling to $ 3.5 thousand, now it is $ 3.9 thousand, decreasing by 13% per day.
The total cryptocurrency market capitalization has dropped 15% over the past 24 hours to $ 2.3 trillion, according to CoinGecko. The share of Bitcoin in the market is 38.4%, Ethereum is 20.1%.
Earlier, the chairman and founder of Navellier & Associates, Louis Navelier, predicted an 80% correction in bitcoin and a decline in the value of the asset to $ 10 thousand. Navelier believes that the Fed's actions in the future will only strengthen the correction of high-risk assets, which are cryptocurrencies.