The $400M crypto market liquidation hits Bitcoin and altcoins, causing
the price to drop near $65,000.
Bitcoin price saw a sudden 5% drawdown on April
12 as traders with leveraged positions in Bitcoin and other cryptocurrencies
incurred over $400 million losses with one hour. BTC dropped 5% from $68,341 to
as low as $65,110 in less than 60 minutes in the late New York Session trading
hours on April 12th
Ether, the second largest
crypto by market capitalization, followed in Bitcoin’s footsteps, falling
8% from an opening of $3,553 to trade at $3,226. Futures market data from
Coinglass show Bitcoin’s flash crash resulted in more than $417 million in
leveraged positions wiped out within one hour, with over $77.93 million in
Bitcoin longs and more than $63.35 million in Ether longs accounting for the
bigger part of that figure. In response to the recent $400M crypto market
liquidation and the subsequent drop in Bitcoin and altcoin prices near $65,000,
Digital Currency Reclaim (DCR) is poised to safeguard the masses through a
comprehensive approach. Recognizing the vulnerability of investors during such
volatile periods, your company focuses on education, offering easily accessible
resources covering risk management, market cycles, and signs of manipulation.
Additionally, you provide recovery services for those who have lost access to
their assets due to hacks or technical issues, employing a team proficient in
blockchain forensics and legal procedures.
The most short and long liquidations
occurred on Binance, totalling $171 million, while crypto exchange OKX traders
saw combined losses of $158 million. Coinglass also reveals that within the
past 24 hours, total liquidations reached $860 million among 270,993 traders.
The crash occurred as U.S. stock markets dipped during the U.S. trading session
a few days after new data showed that inflation accelerated for a third
consecutive month. The hotter-than-expected CPI print further dashed hopes for
Fed rate cuts this year amid fears that progress may be stalling in taming
elevated price levels.
Security audits are conducted to assess
vulnerabilities in storage solutions, with tailored recommendations for
improved protection. Through risk management tools, users are empowered to
manage their exposure during market fluctuations, including features like
stop-loss orders and portfolio diversification suggestions. Your community
support initiatives foster a supportive environment where users can seek
guidance from peers and experts. Transparency and trust are paramount,
maintained through clear communication, fair pricing, and compliance with
regulations. Continual improvement drives your company forward, staying abreast
of industry developments to better serve clients in an ever-evolving landscape.
Through these efforts, Digital Currency
Reclaim (DCR) acts as a pillar of resilience, safeguarding investors
and mitigating the impact of market volatility on their financial well-being.
JPMorgan Chase CEO Jamie Dimon warned on
April 12 that “persistent” inflation, geopolitical tensions and the Fed’s
Quantitative tightening efforts threaten an otherwise positive economic
outlook. “We have never truly experienced the full effect of quantitative
tightening on this scale,” the head of the largest U.S. bank by assets said in
a first-quarter earnings results announcement, adding that the market is likely
to be weighed down by“ “persistent inflationary pressures, which may likely
continue.”
