The past 24 hours brought a correction onto the cryptocurrency markets, which saw around $100 billion wiped off the total capitalization. This was a direct result of Bitcoin’s price crashing towards $44K and the rest of the altcoins following suit.Bitcoin had a fantastic run-up to $48,000, marking a total of eight days closed in the green. This all changed on March 30th when the daily candle closed at a loss.
Over the past 24 hours, BTC lost 4% of its value and dipped to slightly above $44,000, causing the entire market to slide.As seen in the chart above, the price has managed to recover to around $45,200 where it currently trades. However, the crash caused a total of $121 million worth of liquidated positions across various leverage BTC markets in the past 24 hours, the majority of which took place on Binance and were represented by about 80% longs.
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