Bitcoin's decline triggers $500 million in liquidations; what happens now?
Bitcoin fell 2.6% in the last 24 hours after reaching new all-time highs last week due to expectations of a cut in U.S. interest rates.
On the morning of this Monday (18), Bitcoin was trading at $115,192, after rising to $122,882 just a few days ago.
Analysts said that derivative data shows a wave of profit-taking driving the decline of the leading cryptocurrency over the weekend.
About $550 million in positions were liquidated in cryptocurrencies due to the slight drop in Bitcoin's price, according to CoinGlass.
On the morning of this Monday (18), Bitcoin was trading at $115,192, after rising to $122,882 just a few days ago.
Analysts said that derivative data shows a wave of profit-taking driving the decline of the leading cryptocurrency over the weekend.
About $550 million in positions were liquidated in cryptocurrencies due to the slight drop in Bitcoin's price, according to CoinGlass.
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BTC
113,710
-1.16%
