$1 Billion Liquidated as Bitcoin Value Crashes through $1.4K in Mins By way of Cointelegraph

$1 Billion Liquidated as Bitcoin Value Crashes through $1.4K in Mins

The cost of (BTC) and Ethereum’s Ether (ETH) plunged through 13% and 21%, respectively, inside of mins on Aug. 2. The transfer liquidated greater than $1 billion value of futures contracts as dropped from round $12,000 to as little as $10,550.

There seem to be two primary causes in the back of the unexpected cascade of liquidations. First, the amount within the cryptocurrency marketplace has a tendency to drop all the way through weekends. 2d, the marketplace used to be closely swayed to longs or consumers.

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