$ 300 million in Longs liquidated in 1 hour: Bitcoin Crasht, Ethereum rejected $ 5k

The entire cryptocurrency market went straight to the south on Sunday evening, led by a huge fall in the biggest of the couple.

The price of Bitcoin had calmed around $ 115,000 all day long with little to no movements in both directions, but suddenly fell to the lowest price level since 10 July.

Remember that the primary cryptocurrency shot up on Friday after Fed Chair Jerome’s somewhat optimistic speech about upcoming interest rates. The active went from less than $ 112,000, which was a local layer at the time, to more than $ 117,000 within an hour or so.

However, that aid was short -lived and BTC quickly withdrew to around $ 115,000, where it spent most of the weekend. Less than an hour ago, however, the bears unexpectedly returned by pushing BTC to a lowest point in six weeks of $ 110,600 (at most fairs).

Bitcoin has since found two Grand, but still acts below $ 113,000. It cost the most Altcoins South with it, including ETH, which flew high.

In fact, the second largest cryptocurrency has just painted a new high point of almost $ 5,000. However, because the community expected a breakthrough above that milestone, ETH fell to nearly $ 4,700 before he recovered to around $ 4,800 from the moment of press.

Most Altcoins have mapped a similar volatile price in the past hour, which has damaged surplus traders. Data from Coinglass shows that the liquidations per hour have progressed to more than $ 300 million, with long -term responsible for around 90% of the full amount.

The destroyed positions on a daily scale are almost double that size, with more than 130,000 traders liquidated. The single destroyed position took place on OKX and was worth $ 12 million north.