The price of Bitcoin fell 0.6% over the same period, which contributed to the liquidation spree.This drop comes on the heels of a 3.7% drop since the beginning of the week, which is adding to the pain for bullish traders.
As is often the case, those who were late to the game or did not manage their risk effectively ended up paying a heavy price. The major liquidations make us wonder if the market is just making a normal correction, or if this is the end of Bitcoin’s recent rally.
One thing is for sure: despite the recent volatility, Bitcoin is still a big deal for investors and traders. The financial markets are still paying attention to this cryptocurrency, so it is likely to remain a volatile asset.
There are opportunities and risks for those willing to participate. While some may be less excited about recent liquidations, others may see this as a chance to buy Bitcoin at a potentially discounted price.
It is important to note that leveraged trading carries significant risks, so traders should be careful and think about their risk tolerance before entering into such positions.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
