Over the past day, traders lost $ 1.7 billion

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Today, January 22, the bitcoin price showed a record drop since March. Over the past day, BTC has become cheaper to $ 29 thousand, at the moment losing 13% of its value. Then the cryptocurrency rate began to recover. At 12:00 Moscow time, bitcoin costs $ 31.2 thousand, according to coinmarketcap.com., Writes RBC Crypto.

Amid falling quotes of bitcoin and other cryptocurrencies, traders trading with leverage lost more than $ 1.7 billion during the day. Exchanges forcibly closed positions of over 200 thousand users. The loss of one of them exceeded $ 7.1 million, according to bybt.com data.

Over the past 24 hours, the largest volume of liquidations fell on long positions. Users who bought cryptocurrencies in anticipation of further growth in their value lost almost $ 1.4 billion, or 80% of the total liquidations.

The largest volume of liquidations was recorded on the Binance exchange, its users trading with leverage lost more than $ 700 million per day. On the Huobi trading platform, contracts for $ 350 million were forcibly closed. Third place went to Bybit – $ 300 million.

The likelihood of further depreciation of bitcoin and other cryptocurrencies remains, warned three authoritative experts. Michael van de Poppe, an analyst at the Amsterdam Stock Exchange, allowed the BTC rate to drop to $ 24-26 thousand within a few weeks. Analyst Ayash Jindal and director of investments at Guggenheim Partners Scott Meinerd consider it possible that the coin’s quotes could collapse to $ 20,000.

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