Bitcoin Price Drops Below $50,000, Over $1 Billion In Trades Liquidated

Bitcoin Magazine

Over the last 24 hours, bitcoin’s price has dropped by approximately 9% as more than $1,000,000,000 of leveraged bitcoin long positions have been liquidated across various exchanges.

Liquidated long positions over the last 24 hours

The pullback over the last 24 hours is a continuation of a move that started on April 14th, after Bitcoin hit an all time high of $64,800. From peak to trough, the market has retraced as far as -26.97% since the April 14th all time high, a common occurrence in a bitcoin bull market.

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