Cryptocurrency markets fluctuated after news of Tesla’s disposal of Bitcoins. Affected by the recent dips, the crypto market cap dropped 4% in 24 hours.
Decline in Market Increases Selling Pressure
The negative atmosphere created by Tesla, which sold 75 percent of the Bitcoins in its balance sheet, brought sales pressure with it.
Bitcoin, which lost 8 percent in 24 hours, fell to 21 thousand 100 dollars. The $41 million outflow experienced as the pressure increased was reflected as a 4% drop in the crypto market cap as of July 26. According to CoinGecko data, the market fell to $ 966 billion after the fall.
After this market decline, over 74 thousand investors were liquidated in the last 24 hours, while the liquidation amount exceeded 209 million dollars.
The stock market with the highest amount of liquidation was Okex with 37.32%. Binance followed Okex with 26.58%.
82% of the liquidations occurred in long positions. The most liquidated asset was the leading follower Ethereum (ETH). Ether (ETH) worth $87 million has been liquidated in the last 24 hours.
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