Crypto Carnage: Bitcoin's Slide Below $69,000 Triggers Massive $700 Million Liquidation
Portfolio Pulse from Bibhu Pattnaik
Over $700 million in cryptocurrencies including Bitcoin, Ethereum, and others were liquidated in 24 hours as Bitcoin's value dipped below its previous all-time high. MicroStrategy plans to offer $525 million in convertible senior notes to purchase more Bitcoin as its price nears $70,000.
March 16, 2024 | 8:53 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Binance Coin experienced over $10 million in liquidations, indicating market-wide negative sentiment.
The liquidation of Binance Coin assets aligns with the broader market downturn, suggesting a negative short-term impact.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Bitcoin saw over $260 million liquidated as its price dipped below its previous all-time high, trading at $67,576.61.
The significant liquidation amount and the price dip below the previous all-time high indicate a negative short-term impact on Bitcoin's price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Dogecoin also faced over $10 million in liquidations, reflecting the broad impact on the crypto market.
The liquidation event for Dogecoin, similar to Solana, suggests a negative short-term impact on its price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Ethereum experienced over $122 million in liquidations as part of the broader crypto market downturn.
The substantial liquidation of Ethereum assets contributes to a negative outlook in the short term for its price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Pepe, among other cryptocurrencies, saw significant liquidations, with over $10 million affected.
Pepe's inclusion in the list of significantly liquidated assets points to a negative short-term price impact.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Solana saw over $10 million in liquidations, affected by the market's negative sentiment.
The liquidation of Solana assets, although smaller compared to Bitcoin and Ethereum, still indicates a negative short-term impact.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70