According to CoinGlass, Bitcoin investors have liquidated $2.56 billion in assets in recent days. Cryptocurrency prices have fallen, following the sale of other risky assets (stocks, precious metals).
This volume is significantly lower than the record $19 billion liquidation, which occurred after US President Donald Trump announced new tariffs on goods from China. However, analysts note that the latest wave underscores the crypto market’s high sensitivity to a decline in overall risk appetite.
Bitcoin, despite its inherent volatility, has been further pressured by new concerns about trading in the field of artificial intelligence, as well as the sale of precious metals, which began after Trump announced his nomination of Kevin Warsh as chairman of the Federal Reserve.
Bitcoin’s price fell to $104,782.88 on October 10-11, having hit a new all-time high of $126,000 in the previous days. The latest data shows the price hovering around $75,000-$78,000, after a more than 6 percent drop on Saturday.
Bitfinex analysts noted in a report published on Monday that low liquidity over the weekend also deepened the decline.
