Bitcoin’s price drops to $66K: Blame the halving or something else?
- Long positions constituted about 83% of the total liquidations.
- An analyst reaffirmed that the market generally becomes “significantly volatile” in the lead up to Bitcoin’s halving.
Bitcoin [BTC] sharply corrected during early Asia hours on Tuesday, plunging 5.7% to as low as $66,000.
The sudden retracement triggered liquidations worth $200 million from the entire crypto market in the last four hours, as per AMBCrypto’s analysis of Coinglass’ data.
Long positions constituted about 83% of the total liquidations.