The U.S. stock market's significant decline impacts cryptocurrencies, with Bitcoin dropping to $77,000, and global liquidations reaching $854 million.
- byVic

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Due to the sharp decline in the U.S. stock market, Bitcoin has been continuously falling since the early hours of the 6th, dropping to $77,430 at one point on the morning of the 7th. This led to 280,000 people being liquidated globally within 24 hours, with a total amount reaching $854 million. According to data from Coinglass, the liquidations mainly occurred on the Bybit and Gate.io exchanges, with 91.13% of the liquidations caused by long positions in Bitcoin facing the market crash.
Due to the impact of the plummeting U.S. stock market, Bitcoin has continued to crash since midnight Taiwan time on the 6th. By around 7 a.m. on the 7th, the price of Bitcoin had touched $77,430. This sudden drop caused 280,000 people worldwide to face liquidation within 24 hours, with a total amount reaching $854 million (approximately NT$28.284 billion).
According to data, over the past 24 hours, a total of 280,548 people globally faced liquidation due to the crash of Bitcoin and the decline of related cryptocurrencies, with the total liquidation amount reaching $854 million. The largest single liquidation occurred on a certain exchange, with the contract valued at $16.38 million. Data shows that as a leader among global cryptocurrency exchanges, the number of liquidations on that exchange ranked only third, accounting for 17.37%, with a total liquidation amount of $4.647 million. The first place goes to another exchange, where the total liquidation amount reached $11.47 million, accounting for 42.87%; the second place is held by yet another exchange, with a total liquidation amount of $4.669 million. It is worth noting that 91.13% of the liquidations were due to long positions facing the sudden drop of Bitcoin.