Bitcoin Crashes Below $30K For The First Time Since January 2021

Things in the cryptocurrency market are looking increasingly bad as the price for bitcoin just crashed below $30,000.

• Bitcoin’s price is currently trading below $30,000.
• This hasn’t happened in months as the last time we saw these levels was in January 2021.

• Other cryptocurrencies are also following suit with most of the altcoins charting double-digit declines on the weekly.
• This has also led to almost $800 million worth of liquidated positions across the major exchanges over the past 24 hours.
• The largest single liquidation order happened on Bybit. It was a Bitcoin position with a face value of $5.4 million.
• Not surprisingly, the majority of liquidations came from long positions. In the past hour alone, around 94% of the longs were wiped off.