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Blockchain data analytics company Elliptic shared data with the FT showing private crypto fundraising for pro-Ukrainian causes has outpaced Russian equivalents by a Recent developments surrounding U.S. tariffs have led to a staggering $450 million in liquidations across the crypto futures market within the last 24 hours. This article Nearly half a billion in bullish crypto bets were liquidated as the market buckled under geopolitical pressure. Data from CoinGlass shows that 86% of traders are In the context of Russia’s invasion of Ukraine, crypto proponents argue that crypto helps undermine Moscow’s authoritarian regime by providing an alternative to the Per data from CoinGlass, the combined crypto market liquidation has topped $452 million in 24 hours. Notably, 160,022 traders were implicated in the liquidation. The price On Thursday, reports of President Putin giving an Invasion order on Eastern Ukraine weighed down heavily on cryptocurrencies, triggering a selling frenzy that saw the Bitcoin's sudden drop to $60,300 triggered $450 million in liquidations amid Middle East tensions, despite October's historically bullish trend for cryptocurrencies. Crypto market sees mass liquidation after new BTC ATH, analysts remain unfazed and expect next Bitcoin ATH at $108,000. As far as Bitcoin [BTC] is concerned, the liquidation numbers had surpassed the $75 million mark in the 4-hour period.

$450 Million Crypto Liquidated: Bitcoin Shells $75M Amidst Russia-Ukraine Crisis & Geopolitical Turmoil

The volatile crypto market has experienced a brutal shakeup, with a staggering $450 million in liquidations hitting the crypto futures market in the last 24 hours. Nearly half a billion in bullish crypto bets were wiped out as the market buckled under geopolitical pressure, primarily fueled by concerns surrounding the Russia-Ukraine crisis and recent U.S. tariff developments.

Data from CoinGlass reveals the magnitude of the sell-off. The combined crypto market liquidation has topped $452 million within 24 hours, implicating over 160,022 traders. Specifically, Bitcoin [BTC] liquidation numbers surpassed the $75 million mark in a recent 4-hour period alone, indicating the intense pressure on the leading cryptocurrency.

The market downturn was initially triggered by reports of President Putin giving an Invasion order on Eastern Ukraine. This news weighed heavily on cryptocurrencies, sparking a selling frenzy across the board.

While the Russia-Ukraine conflict contributed to the market instability, it also highlights crypto's potential to circumvent authoritarian regimes. Blockchain data analytics company Elliptic shared data with the FT showing private crypto fundraising for pro-Ukrainian causes has outpaced Russian equivalents by a significant margin. This demonstrates the utility of cryptocurrency as an alternative financial system during times of geopolitical conflict.

Bitcoin's vulnerability was further exposed by other external factors. As Bitcoin's sudden drop triggered $450 million in liquidations, various global events are having an effect on Bitcoin and the broader crypto market.

Despite this recent crash, some analysts remain optimistic. While the market witnesses mass liquidation, many experts expect to see a new Bitcoin ATH. Some analysts even predict the next Bitcoin ATH at $108,000.

This article will continue to track the ongoing situation and provide updates on the crypto market's response to the Russia-Ukraine crisis and related global events.

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