Bitcoin has suffered the worst plunge in financial history as it lost about $7,000 in value, sinking from $34,000 to $27,000 in minutes.
The result stunned so many traders and investors who overleveraged on the prevailing bullish trend in the Bitcoin market.
“$190,000,000 (in long positions) were liquidated on Binance within 10 minutes. Largest value to date,” Glassnode commented alongside a chart showing Binance liquidations.
As at the time of filing this report, Bitcoin is trading at $30,996.19 with a daily trading volume of $82,311,674,405.