Around $560 M Crypto Positions Were Liquidated

by in Cryptocurrency News

Crypto liquidations

Prices of cryptocurrencies started to decline again after a market rise for several days. In the last 7 days, Bitcoin dropped by 13.5% and now trades at around $21,200. Ether fell by 17% and trades at around $1,600.

Related: Mike Novogratz Doesn't Expect Bitcoin Price to Surpass $30,000

Global financial markets are unstable amid the growing inflation over the world. A few days ago, the US Fed revealed in a meeting they approved another 0.75 percentage point rate hike for the next month.

According to data, we are seeing selloff and liquidation of positions in the crypto market. More than $637 M crypto positions were liquidated. Currently, the total crypto market cap stands at over $1 T. In the last 24 hours, this indicator declined by nearly 2%.

Stock market is down today too. Indexes of Nasdaq, Dow Jones, S&P are down by 2.6%, 0.86%, 1.29% respectively.