Liquidations keep piling in as Bitcoin price dips below $21,000 briefly and ETH – below $1.1K

Liquidations continued to run high as Bitcoin price briefly dipped below $21,000 and ETH – below $1,100. At the time of writing, BTC is changing hands at $22,855.

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BTC/USD 4-hour chart | Source: TradingView

$1.25 billion in liquidations as Bitcoin price briefly dips below $21,000

The crypto market downturn continues with no signs of slowing down. Bitcoin dipped below $21k, leaving around $1.24 billion in total liquidations over the past 24 hours. The bloodbath in the crypto market continues and shows no signs of slowing down.

According to data from Coinglass, this has left a massive $1.24 billion in liquidation across the entire market in the last 24 hours. Most of that has come from Bitcoin, reaching over $600 million.

Ethereum is in second with slightly below $480 million at the time of this writing. Ethereum also fell below $1,100 briefly but managed to recover back to where it is currently trading slightly below $1,200. The largest single liquidation order took place on BitMEX – it was an XBTUSD perpetual contract with a face value of over $4.4 million.

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