<\/p>\n
Leverage traders are staring at over $654,000,000 in losses after Bitcoin (BTC<\/a>) suddenly dipped to $62,000, a more than 8% decline from the day\u2019s high.<\/p>\n According to crypto data aggregator Coinglass, more than 232,029 traders suffered<\/a> $654.34 million in liquidations during the last 24 hours \u2013 mostly from leveraged longs.<\/p>\n Crypto exchange OKX hosted the largest number of liquidations at $244.55 million, followed by Binance, the world\u2019s largest crypto exchange, at $239.60 million.<\/p>\n The largest single liquidation order happened on OKX in the BTC\/USDT pair for a value of $12.25 million, according to Coinglass.<\/p>\n Bitcoin is trading nearly 14% below the new all-time high of $73,737 reached on March 14th. After dipping down to around $62,000 Tuesday, Bitcoin has recovered slightly and is trading for $63,890 at time of writing.<\/p>\n According to pseudonymous crypto trader Rekt Capital, Bitcoin\u2019s sudden dip coincided<\/a> with the leading digital asset entering the so-called \u201cdanger zone\u201d ahead of the halving event when miners\u2019 rewards are cut in half.<\/p>\n The trader says that historically, Bitcoin has seen a deep correction anywhere from 14 to 28 days before the halving event. He estimates the next halving event is April 15th.<\/p>\n He believes that Bitcoin could dip to as low as the $44,000 range based on BTC\u2019s price action during the 2016 and 2020 market cycles.<\/p>\n \u201c20% from here [$65,348] would be interesting. That would be approximately $13,000 towards the downside, or a 30% retrace would be even deeper than that. It would get us down from current levels by approximately $21,000. And that\u2019s pretty crazy to think that we could still get to $44,000.\u201d<\/em><\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>  <\/p>\n Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Leverage traders are staring at over $654,000,000 in losses after Bitcoin (BTC) suddenly dipped to $62,000, a more than 8% decline from the day\u2019s high. According to crypto data aggregator Coinglass, more than 232,029 traders suffered $654.34 million in liquidations during the last 24 hours \u2013 mostly from leveraged longs. Crypto exchange OKX hosted the […]<\/p>\n","protected":false},"author":2,"featured_media":199597,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-268068","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/268068","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=268068"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/268068\/revisions"}],"predecessor-version":[{"id":268070,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/268068\/revisions\/268070"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/199597"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=268068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=268068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=268068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n
Check Price Action<\/a><\/span><\/em>
\n
Follow us on Twitter<\/a>, Facebook<\/a> and Telegram<\/a><\/span><\/em>
\n
Surf The Daily Hodl Mix<\/a><\/span><\/em>
\n<\/p>\nDisclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n