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$1 Billion Liquidated as Bitcoin Price Crashes by $1.4K in Minutes

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August 2, 2020
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$1 Billion Liquidated as Bitcoin Price Crashes by $1.4K in Minutes
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imageCryptocurrency6 hours ago (Aug 02, 2020 04:00AM ET)

$1 Billion Liquidated as Bitcoin Price Crashes by $1.4K in Minutes

The price of Bitcoin (BTC) and Ethereum’s Ether (ETH) plunged by 13% and 21%, respectively, within minutes on Aug. 2. The move liquidated more than $1 billion worth of futures contracts as BTC/USD dropped from around $12,000 to as low as $10,550.

There appear to be two main reasons behind the sudden cascade of liquidations. First, the volume in the cryptocurrency market tends to drop during weekends. Second, the market was heavily swayed to longs or buyers.

Keep track of top crypto markets in real time here

Continue Reading on Coin Telegraph

$1 Billion Liquidated as Bitcoin Price Crashes by $1.4K in Minutes

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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