U.S. stocks plummet, affecting cryptocurrencies. Bitcoin falls to $77,000, with global liquidations reaching $854 million.
- byVic

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Due to the sharp decline in the US stock market, Bitcoin has continued to drop since midnight on the 6th Taiwan time, falling to a price of $77,430 in the morning of the 7th. This crash resulted in 280,000 people globally experiencing liquidation, with total losses amounting to $854 million, among which the largest single liquidation on the Bybit exchange was $16.38 million. According to data, the number of liquidations on Binance accounted for 17.37%, with a total amount of $4.647 million, primarily due to investors suffering losses from long positions.
Due to a significant drop in the U.S. stock market, Bitcoin, which has been experiencing constant fluctuations, has continued to plummet since around midnight Taiwan time on the 6th. By around 7 a.m. on the 7th, its price briefly fell to $77,430. This sudden downturn caused 280,000 people worldwide to face liquidation within 24 hours, with the total liquidation amount reaching $854 million (approximately NT$28.284 billion).
According to data, in the past 24 hours, 280,548 people around the world have faced liquidation due to the crash of Bitcoin and the subsequent cryptocurrency market collapse, with a total liquidation amount reaching $854 million. Among these, the largest single liquidation occurred on the Bybit exchange, with a contract value of $16.38 million. Data shows that as the world's leading cryptocurrency exchange, Binance ranks third in liquidation numbers, accounting for 17.37%, with a total liquidation amount of $4.647 million. Meanwhile, the total liquidation amount on Bybit reached $11.47 million, making up 42.87% of the overall total, followed by Gate.io with a total liquidation amount of $4.669 million. It is noteworthy that 91.13% of the liquidations were caused by long positions being liquidated due to the sudden plummet of Bitcoin.