As the global cryptocurrency market continues to correct, an increasing number of traders have chosen to profit and depart the market, resulting in enormous liquidations on numerous exchanges for those who choose to keep their positions open. As bitcoin falls further, the current 24-hour liquidation volume on numerous controlled exchanges has already reached $ 640 million. In the previous 24 hours, the first cryptocurrency has lost more than 8% of its value.
Bitcoin had already experienced an 8% drop since 15th November, which began on 14th November. The market also experienced a $500 million depreciation in less than 24 hours due to the large number of positions offered.
Bitcoin Price Chart – Source: CoinMarketCap
The same amount of liquidity shows that a substantial number of fat holdings were still driving the previous surge. Using borrowed funds from trading, traders can gain greater results from their market positions because the rate is higher.
A high degree of consistency usually has its own distinct characteristics, such as high flexibility, low fluid, and environment-like swing. Previously, market participants were able to see the high volume of an improved position in May, when Bitcoin reached the local ATH and was followed by about 50%.
Over the past few months, more trading has begun to follow safer trading procedures by reducing the available rate, bringing it closer to the standards used in conventional brokerages, without the ability to opt for the “x100” profit options that became industry standard back in 2017.
Central bank regulators and commissions often criticize cryptocurrency trading because of market fraud that traders are exposed to because of overcrowded markets.