Elimination of long positions
Over the past 4 hours, the crypto has liquidated $ 8.19 billion long positions as the Bitcoin price dropped to $ 50.9k. The bitcoin price began to decline from Saturday, but the sudden drop began around 3:00 UTC on Sunday.
In 25 minutes, the price of bitcoin fell by 13 %% to 50931. Long positions for $ 4.35 billion were liquidated on the bitcoin (over the last 4 hours). It is believed that it was caused by the US Treasury, but so far the information is unconfirmed.
As of this writing, the bitcoin price has returned to around $ 55,630 (+ 9.2%). Overall, $ 8.92 billion worth of long crypto positions have been liquidated in the last 24 hours.
liquidities in 24 hours - 8.92 billion
bitcoin liquidity in the amount of $ 1.35 billion.
The market crashed amid rumors that the US Treasury Department may soon accuse a number of financial institutions of using digital assets to launder money. This is the only news that many investors and traders adhere to. The market was ready for a correction, but a trigger was needed.
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I am a noob and a bit shocked at the how quick the down trend in the market was over the last few hours.
However my first thoughts were also “what can I buy” to help me recover in the long run.
I had / have always been conscious that markets can go down and I that needed a strategy.
No. 1 was to invest in crypto I am happy to hodl until a later date, and so I’m not in a panic at the moment.
It probably helps that no. 2 was to only invest what I could afford to loose.
I hope that everyone else is okay and able to ride the rollercoaster too!
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