Liquidations reach $130M as Bitcoin drops below crucial $25k level

Bitcoin lost approximately 3.10% of its market value on June 14, alongside significant liquidations in the crypto market, both over a four-hour period.

According to data from CoinGlass, $130.8 million in liquidations occurred over the four-hour period ending at 9:45 p.m. UTC.

Bitcoin accounted for $37.88 million of those liquidations, while Ethereum accounted for $55.31 million of those liquidations. Together, they accounted for 71% of all liquidations.

XRP accounted for $4.08 million of all liquidations, while LTC accounted for about $2.92 million of all liquidations. Other cryptocurrencies individually accounted for $1.45 million of liquidations or less (notwithstanding the collective $8.06 million of liquidations among other tokens represented in the chart above).

More than 40,600 traders were liquidated over 24 hours.

Three exchanges — OKX, Binance, and Huobi — were responsible for most of the above liquidations. They saw $38.14 million, $36.79 million, and $27.82 million in liquidations respectively. Together, they accounted for 79% of all liquidations.

Bitcoin falls below $25K mark

Data from TradingView indicates that the price of Bitcoin fell 3.10% over 4 hours. The price briefly touched $24,922 before recovering to $25,908 as of 9:45 p.m. UTC.

Other top-ten cryptocurrencies also lost a comparable amount of value over 24 hours, based on CoinGecko data. ETH is down 3.2%, BNB is down 2.1%, XRP is down 8.5%, ADA is down 5.1%, DOGE is down 3.5% and TRX is down 1.6%.

The cryptocurrency market’s total capitalization is also down 3.4% over the past 24 hours and is currently valued at $1.06 trillion.

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