Over $200 Million Liquidated as Bitcoin Gets Rejected at $32K

Bitcoin crashed at $32,000 and took all the altcoins with it, causing another pullback for the entire market. Thus, liquidation and the number of liquidated traders increased dramatically.

• Yesterday was a very positive day for the crypto market, with bitcoin leading the way after rising to nearly $32,000. Altcoins also experienced notable growth, led by Solana and Cardano.
• However, as has happened quite a few times over the past few weeks, this turned out to be a false break. Instead of moving further north, BTC dropped nearly $3,000 in an hour to drop to $29,000.
• Altcoins are not in the best shape: SOL, BNB, ADA, AVAX and many others are losing double-digit percentages per day.
• Overall, the combined market capitalization of all crypto assets dropped by $90 billion on the day to just over $1.2 trillion.
• Data from Coinglass shows that this increased volatility has eliminated almost 80,000 traders in the last 24 hours. The total value of the destroyed positions exceeds $200 million.