Bitcoin Plunges to $82,000: $1 Billion in Futures Liquidations as Market Volatility Surges

Source: CryptoNewsNet Original Title: What’s Happening with Bitcoin and Altcoins? BTC Hits $82,000, $1 Billion Vanishes! – Top 10 Cryptocurrency Rankings Changed! Here’s Everything You Need to Know… Original Link:

Market Volatility Surge

In recent hours, volatility in the cryptocurrency market has increased significantly and sharp declines have occurred.

As a result of increased volatility in Bitcoin, Bitcoin fell below $83,000 and fell to $82,000, according to data from a major exchange.

Bitcoin (BTC) price fell to $82,000 for the first time since April, with losses reaching 10% in the last 24 hours.

Losses also increased in Ethereum and altcoins, with Ethereum (ETH) falling by over 10% to $2,700.

XRP fell 9% to below $2, BNB fell 8.3% to $830, and Solana (SOL) fell 11% to $127.

Futures Market Liquidations

Due to this sudden drop in Bitcoin and altcoins, large positions were liquidated in the futures market.

According to available market data, futures liquidations in the last hour have almost reached $1 billion.

Accordingly, $913 million was liquidated in long positions in the last hour, while $21 million was liquidated in short positions.

With this drop, the probability of BTC reaching $80,000 in November has increased to 58%.

Market Cap Ranking Changes

With this decline, Solana (SOL) fell to 7th place in the cryptocurrency market capitalization ranking.

Accordingly, Solana’s market value was $71.2 billion, while USDC rose to 6th place in the ranking with a market value of $73.8 billion.

*This is not investment advice.