As reported by CoinMarketCap, the crypto assets Bitcoin (BTC) and Ethereum (ETH) have decreased in price, falling below $60,000 and $4,000, respectively. Over USD 500 million across exchanges was liquidated according to the Bybt solution.

Millions Liquidated In One Hour

The king of crypto has dropped below the $60,000 level, dragging ETH down below $4,000. However, Ethereum has recovered over $4,000 by now.

According to Bybt, about $517 million worth of crypto holdings have been liquidated over several crypto exchanges over the past hour.

A total amount of $503.9 million sold in longs on Bitfinex, Binance, Bitmex, Huobi, FTX, and other digital trading platforms.

Bitcoin Rally Stops

BTC lost close to $2,000 in only a few minutes. Besides, funding rates on several crypto exchanges spiked alarmingly. The level of Bitcoin Fear and Greed plummeted from its highest point in over half a year.

Also, Bitcoin long-term investors appear to be extracting some of their profits. This withdrawal is what typically takes place after BTC achieves a new all-time high.

Chinese crypto reporter Colin Wu thinks that the BTC price decrease could be correlated with the fall in the US and Asia-Pacific stock markets.

Disclaimer: Information found on Blue Edge Crypto is those of writers quoted. It does not represent the opinions of Blue Edge Crypto on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.