Bitcoin Falls Below $70,000: $622 Million in Crypto Liquidations in 4 Hours

Bitcoin fell below $70,000 to $68,943, while $622 million in leveraged positions were liquidated across the crypto market in four hours.

According to Binance data cited by Wu Blockchain, Bitcoin fell to $68,943 after rising as high as $73,866 over the past 24 hours. At the time of the post, Bitcoin was trading at $69,297, down 6.1% over 24 hours.

About 88% of liquidations were in bullish positions

According to CoinGlass data, $622 million in positions were liquidated on exchanges in the four hours before the post. Of that amount, $549 million came from long positions opened in anticipation of a price rise, while approximately $72.5 million came from short positions opened in anticipation of a price decline.

Not investment advice.