Reported about 1 year ago
Recent market volatility caused by movements from a Mt. Gox-linked wallet led to significant losses, with Bitcoin dropping 8% below $54,000 and Ether falling over 10%. This resulted in over $580 million in liquidations tied to longs, with the largest single liquidation order being an ETH trade valued at $18.4 million on Binance. The market spiraled down 10% on average, affecting other major cryptocurrencies like Solana, Cardano, and Dogecoin. Open interest fell by 12%, indicating a decrease in market activity as money left the market. Traders anticipate a challenging Q3 for Bitcoin amid uncertainties related to the Mt. Gox release.
Source: YAHOO