Evening currency price news, Bitcoin (BTC) and Ethereum (ETH), the largest and second largest in the market, began to collapse rapidly after 16:00 this afternoon. BTC fell from around US$17,500 to US$17,000 within an hour ; while ETH fell from around $1,275 to below $1,200; both are currently in slight pullbacks.
According to Coinglass data , over the past 24 hours, the liquidation amount of the entire network exceeded 70 million U.S. dollars, of which ETH liquidation was 26.75 million U.S. dollars, and BTC liquidation was 17.05 million U.S. dollars.
The reason for the sharp drop of BTC and ETH in a short period of time may be that the same giant whale transferred USD 550 million in USDC to Coinbase, and it was suspected that it had been converted into legal currency, and burned 450 million USDC.
