Liquidations knock Bitcoin out of world’s top 10 assets

Bitcoin falls outside top 10 assets due to massive liquidations

Bitcoin’s sharp reversal this week has pushed it outside the world’s 10 largest assets by market capitalization, underscoring how difficult it is for the cryptocurrency to maintain its position among top investable assets.

Massive leveraged liquidations trigger market-wide impact

Over $20 billion in crypto positions were liquidated within a matter of hours during a major market crash, with Bitcoin alone seeing significant liquidations. Around 270,000 traders were liquidated in a single 24-hour window, and total liquidations reached approximately $1.7 billion.

Bitcoin’s price dropped by nearly $10,000 on Thursday, triggering nearly $1.7 billion in liquidations across the crypto market. This event contributed to Bitcoin falling out of the top 10 assets globally.

Market reaction and broader implications

The crash not only exposed the risks of leveraged trading but also highlighted the volatility of the crypto market. The liquidation event marked one of the largest in history, with investors offloading leveraged positions, resulting in a significant erosion of asset value.

來源：https://cointelegraph.com/news/liquidations-knock-bitcoin-out-world-top-10-assets