Bitcoin's Fall Couldn't Stand, $15 Million Evaporated: It Had Happened in 2022 too! - Coin Bulletin

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With the sharp drop in the cryptocurrency market yesterday, Bitcoin and Ethereum lost value, while a whale experienced millions of dollars in liquidation.

Along with the sharp drop in the cryptocurrency market yesterday, Bitcoin fell from 97,000 dollars to 93,300 dollars, while Ethereum dropped from 2,770 dollars to 2,600 dollars. This sudden shake in the market caused major investors to incur losses, and according to data shared by Lookonchain, a whale was liquidated again.

On-chain analytics platform Lookonchain announced that a whale's (14.43 million dolar) positions of 7,511 cWBTC were liquidated during the sharp decline in the market. This investor had previously been liquid three times during the massive crash in 2022, losing a total of 74,426 cWBTC (32.82 million dolar). Yesterday's decline showed that risky positions in the market still pose a serious threat.

The market partially recovered

After the fall, there was a recovery in the cryptocurrency market**. Bitcoin is close to around $97,000 and Ethereum is close to $2,770.** However, the losses of large investors have once again raised the risks of leveraged trading in the market. Analysts noted that volatility could continue and investors should be cautious.

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