The BTC falls below $43,500:
- The price of Bitcoin (BTC) falls below $44,000 after ETF approval by the SEC.
- The high market volatility has led to the liquidation of over $80 million in Bitcoin positions.
- The annual volatility of Bitcoin is at 46.5%.
Bitcoin crashes below $43,500
Just 72 hours after Bitcoin Spot ETFs were approved, the price of Bitcoin (BTC) has fallen below the $43,500 mark, representing a 10% drop in just a few hours.
It is important to note that this decline comes in the context of increased market volatility, following the approval of several Bitcoin Spot ETF applications by the Securities and Exchange Commission (SEC).
Prior to this drop, Bitcoin had come close to reaching $49,000, but quickly experienced a decline that pushed its price below $43,500.
Furthermore, there has been an increase in Bitcoin’s annual volatility. The annualized volatility of Bitcoin recently reached 46.5%, marking an increase from the 42.9% rate observed in December.
Over $80 million in liquidation on the futures markets
This volatility has led to the liquidation of over $80 million in leveraged Bitcoin positions, with the majority being long positions.
Coinglass data shows that total liquidations across all leveraged crypto positions amounted to $209 million in the past 24 hours.
As a reminder, liquidation occurs when an investor’s position is automatically closed because they do not have enough funds to cover the losses incurred.
