Keep falling! At around 18:00 yesterday (3rd) evening, the price of Bitcoin (BTC) fell sharply to US$59,570. Although it later rose to above US$60,000, it fell again at around 5:00 am today (4th), with the lowest price at 59,375 U.S. dollar, the latest price updated at 10 o'clock this morning showed that the price of Bitcoin fell further to $57,800, setting a record low in nearly two months.
The entire network was liquidated to US$263 million in 24 hours
According to data from Coinglass , as of this writing, in the past 24 hours, the liquidation amount across the entire network has reached US$263 million, with more than 100,000 people2. Among them, long positions have been liquidated at US$233 million, and short positions have been liquidated at US$29.9 million. The largest liquidation order occurred in OKX's ETH/USD trading pair, worth up to $4 million.
The community lamented: Let’s speculate in coins together in the next life…
Faced with such a violent market situation, the crypto community is crying out. Some people say that the crypto market is about to "go to the tomb (meaning: cemetery)." Many classic jokes about the recent decline have also resurfaced in the cryptocurrency community:
The U.S. stock market lives in fear of rising every day, while A-shares keep high spirits in the decline every day, and laugh at the false bubble of the U.S. stock market.
But we are different. We have more than a dozen moods every day. Sometimes we are as happy as a fool, and sometimes we are so embarrassed that we want to jump off the building one by one. We are still shouting that the big one is coming, the big one is coming, we are alive. I was so tired. I stayed up late every day after speculating in currencies. My body collapsed and my money was gone.
As of now, the person I feel most sorry for is my family.
Crypto KOL He Bi even posted a joke on the X platform, "Let's speculate in coins together in the next life."
Will it fall again? Crypto analyst Ali said on the The liquidation amount was relatively small, and Ali believes that Bitcoin’s decline may not be over yet. Dongzhong also reminds cryptocurrency investors that for the sake of physical and mental health, exchanges may need to be closed for a while!
