Bitcoin drops below $54K as crypto liquidations near $665M
Around $222 million in long Bitcoin positions were liquidated in the past 24 hours, with the price of BTC hitting its lowest point since February.
Bitcoin (BTC) hit a four-month low of $53,499 on Coinbase as news of Mt. Gox’s latest cold wallet transfer hit the markets.
BTC plummeted starting at around July 5 at 4:19 am UTC — its lowest level since late February, per TradingView. Meanwhile, crypto liquidations have climbed to $664.5 million over the past 24 hours — its highest in two months, according to CoinGlass.
Bitcoin has slightly recovered to $54,300, down around 7.4% in the last 24 hours.
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Author: Jesse Coghlan
