Bitcoin Falls as Wild Crypto Market Swing Results in US$310M Liquidation Losses

Wednesday afternoon saw a rapid decline in the price of cryptocurrencies, wiping out gains from the previous day.

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The performance of the overall crypto market is tracked by the CoinDesk Market Index which fell 5.6% in an hour.

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Recently, the price of Bitcoin (BTC), the most valuable cryptocurrency by market capitalization, was at US$28,275.

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The second-largest cryptocurrency by market value experienced a high of $1,984 and a low of US$1,789.

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According to Coinglass data, the previous day, traders lost US$310 million as a result of liquidations.

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Bitcoin Falls as Wild Crypto Market Swing Results in US$310M Liquidation Losses

Wednesday afternoon saw a rapid decline in the price of cryptocurrencies, wiping out gains from the previous day.

The performance of the overall crypto market is tracked by the CoinDesk Market Index which fell 5.6% in an hour.

Recently, the price of Bitcoin (BTC), the most valuable cryptocurrency by market capitalization, was at US$28,275.

The second-largest cryptocurrency by market value experienced a high of $1,984 and a low of US$1,789.

According to Coinglass data, the previous day, traders lost US$310 million as a result of liquidations.

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