Bitcoin Loses 50-Week Average as Liquidations Top $1 Billion
Bitcoin closed below its 50-week moving average as crypto long positions faced over $1 billion in liquidations.
Bitcoin closed below its 50-week moving average according to TheBlock, as the wider crypto market experienced a wave of liquidations exceeding $1 billion in long positions over a 24-hour period.
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The sharp downside move triggered widespread liquidations across crypto derivative venues, wiping out leveraged long positions as prices retreated below key technical levels.
Key facts
- Bitcoin closed below its 50-week moving average.
- Total crypto long liquidations topped $1 billion within 24 hours.
Source: theblock.co
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