The world's largest cryptocurrency, Bitcoin (BTC), experienced a significant decline today.
BTC, which rose above $63,500 at midnight, experienced a decline of approximately 1.5% from this area. Although there is no definitive reason for the decline, such movements can occur on weekends, although not always, due to lack of liquidity.
On the other hand, one of the well-known names in the cryptocurrency world, il Capo of Crypto, made a statement about the situation. Describing the decline as a “typical Sunday dump,” the analyst spoke about the situation after that. According to il Capo, the BTC price may go down a little more from now on, but this decline can be considered an opportunity. However, the uncertainty of the BTC price continues.
When liquidation data is examined, it is seen that there was a liquidation of $79 million in the entire cryptocurrency market in the last 24 hours. $48 million of these were observed in long positions and $30 million in short positions.
*This is not investment advice.