The crypto market retreated Saturday, erasing nearly $70 billion in value as the total valuation of all coins dropped to $2.6 trillion. Bitcoin (CRYPTO: BTC) dropped below the key support at $80,000 and moved to $77,800 at press time.
Ethereum (CRYPTO: ETH) price dropped to $2,170, while Ripple (CRYPTO: XRP) retreated by over 3.25% to $1.40. Some of the worst hit were coins like Humanity Protocol, World Liberty Financial, Venice Token and Canton.
Crypto Liquidations Jump As Prices Fall
The ongoing crypto market crash coincided with a big increase in liquidations. CoinGlass data show that the 24-hour liquidations jumped by 100% to $700 million, the biggest increase in days.
More than 101,000 traders were liquidated in this period, with the biggest one being a Bitcoin trader whose $21 million was wiped out. Bitcoin positions worth $229 million were liquidated as it dropped below key psychological levels.
Ethereum positions worth $197 million and XRP trades worth $13.6 million were liquidated. Some of the other most liquidated tokens were Solana
