{"id":570896,"date":"2022-05-09T12:48:48","date_gmt":"2022-05-09T11:48:48","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=570896"},"modified":"2022-05-09T12:49:03","modified_gmt":"2022-05-09T11:49:03","slug":"bitcoins-50-dip-from-ath-triggers-over-400-million-in-liquidations-across-crypto-market","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/bitcoins-50-dip-from-ath-triggers-over-400-million-in-liquidations-across-crypto-market\/","title":{"rendered":"Bitcoin&#8217;s 50% Dip From ATH Triggers Over $400 Million in Liquidations Across Crypto Market"},"content":{"rendered":"\n<ul><li>The leading crypto is down almost 15% in the last 7 days<\/li><\/ul>\n\n\n\n<ul><li>Bitcoin previously experienced relief after the FOMC meeting and turned the markets green<\/li><\/ul>\n\n\n\n<ul><li>A significant retrace below the $36,000 range followed shortly after<\/li><\/ul>\n\n\n\n<ul><li>Other tokens like ETH and LUNA are also experiencing huge dips from all-time highs and recent highs as well<\/li><\/ul>\n\n\n\n<ul><li>The total crypto market cap is down to $1.58 trillion<\/li><\/ul>\n\n\n\n<ul><li>\u00a0The latest market retrace caused massive liquidations across the market with ETH and BTC traders taking the biggest hits<\/li><\/ul>\n\n\n\n<ul><li>A technical analyst opined that the markets might see lower levels<\/li><\/ul>\n\n\n\n<p>Majority of the cryptocurrency market is currently in a downward spiral as the worlds leading token <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoin-could-find-a-floor-at-28k-btc-analyst\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/en.ethereumworldnews.com\/bitcoin-could-find-a-floor-at-28k-btc-analyst\/\" rel=\"noreferrer noopener\">Bitcoin<\/a> fell below $33,000. As of press time, BTC is trading at $32,964 and has dipped more than 13% over the past 7 days, per data from <a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\" rel=\"noreferrer noopener nofollow\">CoinMarketCap<\/a>.<\/p>\n\n\n\n<p>Data from TradingView shows that BTC has not seen these levels since January 2022. Notably, Bitcoin is now trading more than 50% below its $68,000 all-time high from November 2021.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img width=\"851\" height=\"518\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/BTCUSDT_2022-05-09_12-37-25.png\" alt=\"\" class=\"wp-image-570901\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/BTCUSDT_2022-05-09_12-37-25.png 851w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/BTCUSDT_2022-05-09_12-37-25-300x183.png 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/BTCUSDT_2022-05-09_12-37-25-770x469.png 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/BTCUSDT_2022-05-09_12-37-25-269x164.png 269w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/BTCUSDT_2022-05-09_12-37-25-746x454.png 746w\" sizes=\"(max-width: 851px) 100vw, 851px\" title=\"\"><figcaption>Bitcoin Price Chart (Source: TradingView)<\/figcaption><\/figure>\n\n\n\n<p>Similar to Bitcoin\u2019s recent price movements, other crypto\u2019s like Ethereum\u2019s ETH and Terra\u2019s LUNA have also recorded massive declines from previous highs. Ethereum is 7% down in the last 24 hours and trades around $2,378 while LUNA prices dipped to $60.34, a 27% crash in the past week alone.<\/p>\n\n\n\n<p>In addition, the global crypto market cap fall fallen to around $1.58 trillion as of the time of writing this report.<\/p>\n\n\n\n<h2>Bitcoin\u2019s Retrace Triggers $280 Million in Long Liquidations\u00a0<\/h2>\n\n\n\n<p>BTC\u2019s most recent crash below the $33,000 region supposedly served as the catalyst for massive losses across the market.\u00a0<\/p>\n\n\n\n<p>According to data from CoinGlass, traders have suffered over $400 million in liquidations in the past day alone. Furthermore, Bitcoin traders bared the brunt of the losses with more than $139 million in liquidations. Ethereum trades accounted for the second-highest losses with an estimated $120 million in liquidations.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img width=\"634\" height=\"500\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/Bitcoin-Liquidations.png\" alt=\"\" class=\"wp-image-570904\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/Bitcoin-Liquidations.png 634w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/Bitcoin-Liquidations-300x237.png 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/05\/Bitcoin-Liquidations-269x212.png 269w\" sizes=\"(max-width: 634px) 100vw, 634px\" title=\"\"><figcaption>24-Hour Crypto Market Liquidations (Source: CoinGlass)<\/figcaption><\/figure>\n\n\n\n<p>Other tokens with significant losses included LUNA, SOL, DOGE, TRX, GMT, and APE to name a few.<\/p>\n\n\n\n<h2>Bitcoin Analyst Says Dip To $24K Might Happen<\/h2>\n\n\n\n<p>As the markets continue to take a tumble, a prominent crypto proponent and analyst has predicted a possible slump to lower levels.&nbsp;<\/p>\n\n\n\n<p>According to the Head of Market Research at Bitcoin Magazine, Dylan LeClair, BTC could hit a bottom price of $24,300 in line with historical price patterns during bear markets.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">A <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#bitcoin<\/a> dip down to it&#39;s realized price (average on-chain cost basis) is entirely possible and has been consistent with previous market bottoms in bear market cycles. <br><br>Realized price is $24.3k at the moment. <br><br>[1\/3] <a href=\"https:\/\/t.co\/XcdCbl7W0h\" rel=\"nofollow\">pic.twitter.com\/XcdCbl7W0h<\/a><\/p>&mdash; Dylan LeClair \ud83d\udfe0 (@DylanLeClair_) <a href=\"https:\/\/twitter.com\/DylanLeClair_\/status\/1523579493926899712?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">May 9, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Crypto markets continue to tumble as Bitcoin slips below $33K.<\/p>\n","protected":false},"author":55,"featured_media":570906,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[825,800,2],"tags":[6971,1233,6961,978,1322,108364],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/570896"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/55"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=570896"}],"version-history":[{"count":1,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/570896\/revisions"}],"predecessor-version":[{"id":570909,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/570896\/revisions\/570909"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/570906"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=570896"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=570896"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=570896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}