On the morning of April 19, 2024, the Bitcoin rate dropped below $60,000. Against this background, the volume of liquidations on futures contracts exceeded $264 million.
At that moment, the price of the asset fell to $59,600, according to TradingView. At the time of writing, Bitcoin is trading at $64,445.
Against the backdrop of high volatility in the Bitcoin market, the volume of liquidations on futures contracts has increased significantly. The figure exceeded $264 million with a predominance of long positions:
The volume of liquidations on futures contracts in the crypto-asset market. Source: CoinGlass
It is noteworthy that a few hours after the drawdown, the market partially recovered. Most of the top 10 crypto assets by capitalization are in the “green” zone:
The fear and greed index has increased by nine points over the past 24 hours. However, the indicator is significantly lower compared to the previous week and is gradually approaching the fear zone:
JPMorgan Chase analysts predicted a correction in the Bitcoin rate after halving. This event is expected on April 19-20, 2024.
Note that on April 19, 2024, Iranian state media stated about explosions near Isfahan International Airport. According to press reports, air defense responded to an object, presumably a drone.
Even though the Iranian military said there was no damage, the news could be one of the reasons for Bitcoin's decline.
Source: Cryptocurrency
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