Traders Lost $ 1.7 Billion Amid Bitcoin's Record Fall Since March

The rate of the first cryptocurrency fell by 13% in a day, showing the deepest decline in the last 10 months. Onagainst this background, more than 200 thousand users trading digital assets with leverage have suffered losses.

Today, January 22nd, the bitcoin price showeda record fall 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. Bitcoin is worth $ 30,600 at 11:00 Moscow time, according to coinmarketcap.com.

Against the backdrop of falling quotes of bitcoin and otherscryptocurrency traders trading with leverage lost more than $ 1.7 billion within 24 hours. Exchanges forcibly closed positions of over 200 thousand users. The loss of one of them exceeded $ 7.1 million, according to bybt.com data.

The largest volume of liquidations in the last 24 hoursfell 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 inOn the Binance exchange, its leveraged users lost more than $ 700 million per day. On the Huobi trading platform, contracts for $ 350 million were forcibly closed.The third place went to Bybit - $ 300 million.

The likelihood of further depreciation of bitcoin andother cryptocurrencies persist, three respected experts warned. 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 believe that the coin's quotes could collapse to $ 20,000.

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