Cryptocurrency market liquidates $600 million, Bitcoin falls below $63K, Ethereum down by 20%

Bitcoin and Ethereum dropped to $63,000 and $3,200 respectively, while SOL briefly touched $200 before falling to $173. Meanwhile, the US stock MicroStrategy (MSTR) had already dropped by -9.16% before the opening on March 19th.

Bitcoin Falls Below 63K

Bitcoin dropped to $62,721 on March 19, with a 24-hour decrease of -7.4%.

Since hitting a historic high of $73,787 on March 14, Bitcoin has fallen by -13.39%.

Ethereum Drops Below 3.3K

Ethereum fell to $3,205, with a 24-hour decrease of -9.28%.

Since reaching a yearly high of $4,092 on March 12, Ethereum has dropped by -20.33%.

Cryptocurrency Market Liquidates 630 Million USD

CoinGlass data shows that the cryptocurrency market liquidated a total of 630 million USD in 24 hours, with long positions at 521 million USD and short positions at 108 million USD.

In fact, CME Group's open interest (OI) for Bitcoin futures has been significantly higher than Binance's in the past few months, with 168K BTC vs. 116 BTC.

Therefore, the liquidations related to cryptocurrency prices are definitely higher than 630 million USD, as CoinGlass's liquidation data does not include CME Group.

MicroStrategy Plunges Nearly 10% Pre-Market

MicroStrategy (MSTR) reached $1,816 on March 16, surpassing the previous high of the 2021 bull market, but has since dropped to $1,500, a decrease of -17.4%.

Furthermore, MSTR saw a pre-market drop of -9.16% before the U.S. stock market opened on March 19.

Meme Coins Lead the Decline, SOL Falls to 170

As reported earlier, meme coins such as BONK with a -21.44% drop, FLOKI with an -18.56% drop, led the deepest declines among the top 100 cryptocurrencies by market capitalization, with SOL also experiencing a 16.5% decline.

After briefly surpassing $200, SOL has fallen to the $173 level.

Bitcoin Falls Below 66K, Ethereum Falls Below 3.5K, Meme Coins BOME and SLERF Plummet by 50% in a Single Day