Sunday, October 2

Cryptocurrency Liquidations Exceed $700M as Altcoins Take a Hit as Bitcoin Price Drops Below $40,000 By Cointelegraph

©Reuters. Cryptocurrency liquidations top $700M and altcoins take a hit as bitcoin price plunges below $40,000

The price of bitcoin (BTC) remained lower on Friday after a bout of volatility overnight sent the largest cryptocurrency to six-month lows.

  • Bulls aim to turn the tide on Friday’s $580M options expiry after BTC breaks above $43,000

1-hour candlestick chart of the pair (Bitstamp). Source: TradingView $40,000 Optimism Fades Data from Cointelegraph Markets Pro and TradingView showed the BTC/USD pair hit $38,250 after losing more than $4,000 in hours.

The coin is trading at around $39,000 at the time of writing. Traders were reeling from the sudden drop, which came just as BTC had hit multi-day highs, breaking above $43,000.

Read the full article on Cointelegraph

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