$100M in Bitcoin settled in 1 hour as leading cryptocurrency falls back below $39,000
Bitcoin liquidates over $100 million in long positions in one hour
Support at $39,000 was lost.
What happened
According to data from Benzinga Pro, there was a sharp sell-off in bitcoin during the Asian session on Monday. The leading digital asset lost 4% in value to an intraday low of $38,905.
A market-wide sell-off led to a general sell-off. Positions worth $110 million were liquidated within an hour, CoinGlass data shows
Most of the liquidated traders were long. In the last hour, $107 million of long positions were liquidated, while only $3.91 million of short positions were liquidated.
Bitcoin had a liquidation value of $31.81 million, while Ethereum came in second with a liquidation value of $31.41 million.
Dogecoin
Liquidated $2.47 million, while Solana liquidated $3.17 million.
