The leading cryptocurrency Bitcoin experienced a sharp and sudden drop yesterday evening after moving sideways between $29,000-30,000 for a long time.
While BTC came to $ 25,000 with this sharp drop, most of the investors were caught unprepared for this drop.
According to data from Coinglass, $1 billion of long positions have been liquidated.
In the amount liquidated, Bitcoin ranked first, followed by Ethereum (ETH).
So much so that an investor lost $55 million in Ethereum.
Accordingly, an investor who opened an Ethereum long position in BUSD on Binance reversed yesterday's decline and lost $ 55 million in ETH.
This investor's long position consisted of 38,986,528 ETH and was liquidated at $1,434.
According to data shared by Coindesk, $55 million in ETH liquidation accounted for approximately 30% of all futures liquidated on Binance.
Along with the decline, ETH pinned from $1,780 to approximately $1,550.
However, later news that the SEC is planning to approve Ethereum (ETH) futures ETFs compensated for some of the ETH losses and ETH climbed to the $1,680 levels.
*Not investment advice.
