Bitcoin falls sharply amid weekend liquidation frenzy

Bitcoin is down 10% after a week filled with volatility.
Source: NYDIG Data

On Saturday, high selling pressure in the spot market combined with low weekend liquidity made the price drop below a point where many futures positions would be liquidated. The first liquidations triggered a classic liquidation cascade, rapidly pushing the bitcoin price to around $42,000. The price has since recovered some of its losses, currently trading at $51,000.

ETH and BNB recovered from the market crash faster than bitcoin. ETH ends the past seven days where it started, while BNB is down 4%.

Link copied to clipboard.