As the year 2021 has ended, bitcoin liquidations continue. The year 2021 has been very spectacular for the history of bitcoin, but still, a lot of people are liquid and find their cryptocurrency assets. More importantly, bitcoin is being sold on a vast scale, and it has not even stopped after reaching the hundred-billion-dollar mark of liquidation. Many people are predicting that 2022 will not be a good year for bitcoin, and therefore, people are buying it and selling their bitcoins. There will be a beer trend in the cryptocurrency market, and the long traders have to take the weight of the market itself. On December 30, 2021, bitcoin finished at $50,000, and the degradation in its prices continues. The actions in the market create fear among people, and they are selling their BTC assets on a vast scale.
The BTC liquidation
According to the cryptocurrency trading platforms, bitcoin has been a massive liquidation. Bitcoin liquidation has been increasing and not slowing down. Because of this, there have been almost $31,000,000 liquidations in the past 24 hours. The data shows that the liquidations are ever-increasing, and therefore, they are going to touch a mark of $46 million but still, there is hope for long-term investors. However, during the whole of 2021, traders have made huge profits in the long term. Still, they are facing losses because the liquidations are not stopping down. The market has been a spectacular ride throughout 2021, but the crash is swift and brutal now. The quick liquidation in the prices of bitcoins is touching the billions of dollars mark, and hence, it is not good news for the long-term investors on Bitcoin Digital Software.
On the contrary, the short-term traders of bitcoins are making a profit. The beer trend in the BTC market is leading to large liquidations in prices. The digital assets are being liquefied, and the whole weight of the market is on the long-term traders. The BNB cryptocurrency exchange is the one that is facing the highest volume of cryptocurrency transactions at this point. The majority of traders use this platform because it provides incredible services with many other perks to the users. Therefore, most of the volumes are liquefied or through this platform.
Ethereum is also at stake!
It is not only the bitcoin traders who are facing losses because of the ongoing liquidation in the market, but ETH is also included in it. The second most popular cryptocurrency of the whole world, ETH, has also faced a lot of liquidation in the market. According to the Past data available on the internet, during the recent 12 and 24 hour time frames, there are tens of millions of ETH liquefied by the short-term and long-term investors. Just like bitcoin, the counterparts in the ETH are also very drastic. In the last 12 hours, there has been $21 million ETH liquefied already. However, on the 24-hour scale, there has been a total of $38 million liquidations in the total market capitalization of ETH.
Long-time traders in all cryptocurrencies face huge losses at this point. The prices of ETH also experience a lot of decline because of the declining prices of bitcoins. It has seen a lot of decline in its prices. Therefore, the traders standing at the top of the list are now facing liquidation. They are getting huge losses at the same time. Also, BNB has been the platform where most of the liquidations are taking place as it is the best one.
According to the reports, LUNA is also one of the most prominent players in the cryptocurrency market, and it is also not away from liquidation. In the past 24 hours, $2 million worth of LUNA has been liquefied. It is the degradation of the market for this cryptocurrency. The market capitalization for this one was already not very much. Still, due to the declining prices, it is facing huge losses. The people who have large amounts of LUNA in their wallets are the ones who are not the firm profit makers at this point. Hence, it shows that the cryptocurrency market investors are at the stake of facing huge losses now. Eventually, it is not the right time to purchase many bitcoins or other cryptocurrencies.