Bitcoin Dropped From $18,400 to $17,200 Amid $805 Million Liquidations

On the 17th of November, Bitcoin crossed the 2-year resistance level at $17,100 to $18,000, a new high for 2020. Shortly after, the giant coin fell to $17,200. The rise and fall indicate that BTC has climbed 11% in the last 24 hours and dropped 7% during the same period. 

According to data by Bybt.com, a total of $805.69 million in crypto liquidations occurred over the past 24 hours. In a tweet, Bybt.com highlighted the exchange liquidations for both long and short positions. Bitcoin liquidations stand at 76% of the total liquidations. This is about $617.55 million of the liquidated $805 million. 

Also, Ethereum liquidations are about $88.38 million. An EthereumWorldNews report revealed a detailed screenshot of the $805 million in crypto liquidation. Apart from Bitcoin and Etherem, other affected altcoins are:

“LTC- $19.53 million, EOS- $13.09 million, ETC- $11.16 million, XRP- $11.05 million, BSV- $3.92 million, TRX- $2.4 million, BCH- $1.95 million.” 

With the constant increase in the Bitcoin price and rise in the number of investors, the token is poised to further growth. EthereumWorldNews noted that the probability of BTC hitting $20,000 before 2020 ends is now 14%. 

Currently, BTC is up 3.39% in the last 24 hours to $17,832.57 and at a 24-hour trading volume of over $50 billion.

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