Liquidations are mounting up as total market capitalization crashed more than 6% over the past few hours.
The big move was driven by Bitcoin which fell 4% to $66,750 during Tuesday morning trading in Asia. The asset lost around $2,750 in less than two hours, further liquidating more positions.However, analysts were not fazed, with ‘CrediBULL Crypto’ stating, “All we have done here with this push down is test the two logical levels of support.”
However, while it may seem alarming to crypto newcomers, this market volatility and leverage flush-out is a regular characteristic ofAs usual, the altcoin markets suffered heavier losses. Ethereum shed 6.5% in a fall to $3,350, pushing it back above 30% from its peak price.
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