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Crypto Liquidations Hit $469 Million as Bitcoin Reverses Growth Trend
The crypto market has witnessed a sudden surge in liquidations, with a staggering $469 million in total losses across the board. The alarming trend has seen 125,578 traders affected, with Bitcoin, Ethereum, Solana, and Dogecoin being at the forefront of this drastic downturn.
According to the Coinglass liquidation heatmap, it appears that Bitcoin is leading the charge, with its price dropping from an all-time high of over $122,000 to a current trading value of $116,689.35, a decline of 3.99% in the last 24 hours.
In related news, a previously dormant Satoshi-era whale wallet has reemerged as the broader altcoin market faces a reset. The wallet, which is thought to have acquired BTC in its early days, suddenly became active and transferred an impressive 9,000 BTC worth over $1 billion to Galaxy Digital, a major digital asset manager.
Blockchain analytics firm Spot On Chain flagged this sudden move, identifying it as part of an over-the-counter deal. Meanwhile, the wallet still holds around 11,000 BTC worth roughly $1.3 billion.
This massive transfer likely pushed Bitcoin’s price down to its current value of $116,689.35.
Source: www.coinspeaker.com
