{"id":319078,"date":"2023-04-20T08:15:14","date_gmt":"2023-04-20T07:15:14","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=319078"},"modified":"2023-04-20T08:15:14","modified_gmt":"2023-04-20T07:15:14","slug":"300m-liquidated-in-bitcoins-descent-below-29k","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/300m-liquidated-in-bitcoins-descent-below-29k\/","title":{"rendered":"$300M liquidated in Bitcoin\u2019s descent below $29k"},"content":{"rendered":"<p>Bitcoin (<a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">BTC<\/a>) dropped below two psychological price barriers \u2014 $30,000 and $29,000 \u2014 in the last 24 hours to liquidate $66.14 million long positions held on the asset, according to Coinglass data.<\/p>\n<figure id=\"attachment_319080\" aria-describedby=\"caption-attachment-319080\" style=\"width: 1566px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-319080\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-20-074528.jpg\" alt=\"Bitcoin liquidation\" width=\"1566\" height=\"199\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-20-074528.jpg 1566w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-20-074528-300x38.jpg 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-20-074528-1024x130.jpg 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-20-074528-768x98.jpg 768w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-20-074528-1536x195.jpg 1536w\" sizes=\"(max-width: 1566px) 100vw, 1566px\" \/><figcaption id=\"caption-attachment-319080\" class=\"wp-caption-text\">Source: Coinglass<\/figcaption><\/figure>\n<p>Across the broader crypto market, the total liquidations were $300.10 million over the last 24 hours, according to Coinglass <a href=\"https:\/\/www.coinglass.com\/LiquidationData\">data<\/a>. The sell-off wiped off traders who took long positions on the market.<\/p>\n<p>Most of the liquidations occurred on OKX, Binance, and ByBit. The three exchanges accounted for over 80% of the overall liquidations \u2014 of which 89% were long positions. Other exchanges like Huobi, CoinEx, and Bitmex also recorded a sizeable amount of the total liquidations.<\/p>\n<p>According to\u00a0Coinglass, 88,379 traders were liquidated \u2014 the most significant liquidation being a $3.92 million LTC-USDT long position on Binance.<\/p>\n<p>Other liquidated assets include Ethereum (<a href=\"https:\/\/cryptoslate.com\/coins\/ethereum\/\">ETH<\/a>) and Litecoin (<a href=\"https:\/\/cryptoslate.com\/coins\/litecoin\/\">LTC<\/a>) \u2014 with $69.09 million and $12,20 million, respectively. Others like Dogecoin (DOGE) saw 12.49 million in liquidation, while Solana (<a href=\"https:\/\/cryptoslate.com\/coins\/solana\/\">SOL<\/a>), Arbitrum (<a href=\"https:\/\/cryptoslate.com\/coins\/arbitrum\/\">ARB<\/a>), and XRP recorded less than $10 million each.<\/p>\n<h2>Bitcoin drops below $29,000<\/h2>\n<p>In the last 24 hours, the flagship digital asset fell to $28,953 at the time of writing, according to <em>CryptoSlate<\/em>\u00a0data.<\/p>\n<p>Bitcoin had a positive net flow of $28.3 million during the period. Glassnode <a href=\"https:\/\/twitter.com\/glassnodealerts\/status\/1648914415847198720?s=20\">data<\/a> showed that while $775.6 million BTC was sent to crypto exchanges over the reporting period, investors withdrew $747.3 million as the bears took over the market.<\/p>\n<p>Crypto analyst Maartun pointed out several headwinds in front of the industry that could pull it into a bear market. The analyst <a href=\"https:\/\/twitter.com\/JA_Maartun\/status\/1648935439519084544?s=20\">noted<\/a> that a bunch of 7-10-year coins moved on-chain, which historically is not an excellent sign for the market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) dropped below two psychological price barriers \u2014 $30,000 and $29,000 \u2014 in the last 24 hours to liquidate $66.14 million long positions held on the asset, according to Coinglass data. Across the broader crypto market, the total liquidations were $300.10 million over the last 24 hours, according to Coinglass data. The sell-off wiped [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":307645,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120,6849],"tags":[76769],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>$300M liquidated in Bitcoin\u2019s descent below $29k<\/title>\n<meta name=\"description\" content=\"Bitcoin (BTC) dropped below two psychological price barrier in the last 24 hours to liquidate $66.14 million long positions.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/300m-liquidated-in-bitcoins-descent-below-29k\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$300M liquidated in Bitcoin\u2019s descent below $29k\" \/>\n<meta property=\"og:description\" content=\"Bitcoin (BTC) dropped below two psychological price barrier in the last 24 hours to liquidate $66.14 million long positions.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/300m-liquidated-in-bitcoins-descent-below-29k\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-20T07:15:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/03\/bitcoin-capitulation.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/300m-liquidated-in-bitcoins-descent-below-29k\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/300m-liquidated-in-bitcoins-descent-below-29k\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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