The price of Bitcoin slumped below $43,000 in the early hours of Monday morning, all but erasing the last week’s gains and causing almost $390 million in liquidations across the crypto futures market in the past 24 hours.

At time of publication, Bitcoin is trading at around $42,400, down  3% in the past 24 hours—having dipped as low as $41,800 in the past day, per data from CoinGecko.

Of the nearly $402 million in liquidated crypto positions over the past day, just over $345 million were long positions—with over $260 million in the past hour, according to data from CoinGlass. Over 109,000 traders were liquidated over the past 24 hours.

Of the total liquidations in the past 24 hours, Bitcoin saw over $103 million in liquidations, of which $89 million were long positions.

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Author: Decrypt Staff

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