+0.07% Bitcoin (BTC) 91594 EUR
+0.48% Ethereum (ETH) 2080.27 EUR
+1.29% Litecoin (LTC) 73.66 EUR
-3.25% B-Cash (BCH) 423.59 EUR
+0.39% Ethereum (ETH) 0.0229371 BTC
+1.25% Litecoin (LTC) 0.00081305 BTC
-3.43% B-Cash (BCH) 0.00462378 BTC
+0.11% Bitcoin (BTC) 108408.0571 USDC
-0.02% USD Coin (USDC) 0.85 EUR
+2.93% Chainlink (LINK) 11.55 EUR
+2.74% Chainlink (LINK) 0.00012605 BTC
+1.92% Dogecoin (DOGE) 0.14 EUR
+1.31% Dogecoin (DOGE) 0.00000154 BTC
+3.07% Uniswap (UNI) 6.16 EUR
+2.93% Uniswap (UNI) 0.00006726 BTC
+1.07% Cardano (ADA) 0.48 EUR
+0.94% Cardano (ADA) 0.00000533 BTC
+0.40% Tron (TRX) 0.23 EUR
+0.38% Tron (TRX) 0.00000258 BTC
+2.46% Shiba Inu (SHIB) 0.00000999 EUR
-0.55% Zcash (ZEC) 33.6 EUR
0.00% Zcash (ZEC) 0.0004242 BTC
0.00% TradeFlow (TFLOW) 0.12216892 BUSD
+1.20% Arbitrum (ARB) 0.3101 USDC
+2.99% Chainlink (LINK) 13.41 USD
+3.01% Chainlink (LINK) 13.39878 USDC
+3.11% Uniswap (UNI) 7.145 USDC
+1.94% Ondo (ONDO) 0.65 EUR
+1.95% Ondo (ONDO) 0.76336 USDC
+3.19% Gala (GALA) 0.01 EUR
+3.47% Gala (GALA) 0.01401 USDC
+24.54% Wormhole Token (W) 0.06 EUR
+24.72% Wormhole Token (W) 0.0797 USDC
+2.54% Chiliz (CHZ) 0.03 EUR
+2.51% Chiliz (CHZ) 0.03545 USDC
+1.37% Sand (SAND) 0.2 EUR
+1.34% Sand (SAND) 0.2417 USDC
+0.14% Aave (AAVE) 221.38 EUR
+0.11% Aave (AAVE) 259.33 USDC
+0.85% Curve DAO (CRV) 0.43 EUR
+0.82% Curve DAO (CRV) 0.5141 USDC
+4.61% Immutable X (IMX) 0.37 EUR
+4.79% Immutable X (IMX) 0.4335 USDC
0.00% Skale (SKL) 0.07 USDC
+0.42% Beam (BEAM) 0 EUR
+0.91% Beam (BEAM) 0.00553 USDC
0.00% Axelar (AXL) 1.05 USDC
-2.74% Livepeer Token (LPT) 5.02 EUR
-2.33% Livepeer Token (LPT) 5.892 USDC
-1.68% Compound (COMP) 38.62 EUR
-1.67% Compound (COMP) 45.39 USDC
0.00% Coti (COTI) 0.04 EUR
0.00% Coti (COTI) 0.0492 USDC
0.00% Portal (PORTAL) 1.1 USDC
0.00% Sushi (SUSHI) 0.49 EUR
0.00% Sushi (SUSHI) 0.5759 USDC
0.00% Pepe (PEPE) 0 EUR
0.00% Pepe (PEPE) 0.00000925 USDC
0.00% Optimism (OP) 0.45 EUR
0.00% Polygon (MATIC) 0.2 EUR
0.00% Solana (SOL) 121.38 EUR
0.00% Solana (SOL) 0.0013219 BTC
0.00% Solana (SOL) 0.058557 ETH
0.00% USD Coin (USDC) 0.72 GBP
0.00% USD Coin (USDC) 1 USDT
0.00% USD Coin (USDC) 145.58 JPY

Bitcoin 5% flash crash leads to $165M in leveraged crypto liquidations

04-02-2024

Leverage traders are nursing losses of over $165 million as the price of Bitcoin tumbled 5%.

A sudden 5% drawdown in the price of Bitcoin BTC tickers down $66,894 on Tuesday has seen traders with leveraged exposure to Bitcoin and other cryptocurrencies rack up over $165 million in losses in less than 2 hours.

Bitcoin plunged 5% from $69,450 to as low as $65,970 in less than 30 minutes, in early hours on March 2 UTC, per TradingView data.

According to data from Coinglass, Bitcoin’s sharp wick down saw more than $165 million in leveraged positions wiped out, with just over $50 million in Bitcoin longs and more than $40 million in Ether ETH tickers down $3,386 longs accounting for the bulk of that figure. Roughly $6 million in long positions on Dogecoin DOGE tickers down $0.19 and $4 million in Solana SOL tickers down $185 were liquidated, trailing BTC and ETH.

Around the same time as the drawdown, Bitcoin exchange-traded funds (ETFs) posted a net outflow of $86 million, breaking a four-day positive inflow streak per FarSide data.

BlackRock’s ETF stood as the best-performing fund with a net inflow of $165.9 million, while Fidelity came in second with $44 million.However, the inflows were weighed down by Grayscale’s GBTC posting $302 million in outflows, bringing the net daily outflows for all the funds to $85.7 million.

Tether wobbles from its peg

At the same time as the Bitcoin flash crash, the value of the U.S. Dollar-pegged stablecoin Tether 

USDTtickers down $1.00 also wobbled around 1%, briefly falling from its $1 peg to $0.988, according to data from CoinGecko and Google Finance.

It’s unclear if the USDT wobble was an error in the API of certain data trackers or if the value of the currency suffered a sudden loss — however, the brief depeg did not appear on other price trackers.

Cointelegraph contacted Tether but did not receive an immediate response.

Source: Cointelegraph.