Bitcoin Bounces Back After $1B Market-Wide Liquidation Triggered by Price Drop
Bitcoin experienced a sharp drop in value on March 5, losing over 10% of its market capitalization within hours and triggering a market-wide sell-off. This led to a reported $1 billion in liquidation, with leveraged traders suffering the most. The drop was attributed to profit-taking and miners offloading their holdings, as evidenced by an increase in Miners' Outflow. However, the market rebounded quickly on March 6, with Bitcoin reclaiming $67K and some memecoins rebounding strongly. Some market watchers predict that Bitcoin's price will increase due to supply shock and the upcoming Halving event in April.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
FORMUSDT now launched for futures trading and trading bots
A newly created address spent a total of $128,000 to build a position in the past 11 hours
Institutional DeFi: Ethena Labs and Securitize Launch Converge

Trending news
MoreCrypto prices
More








