While tomorrow’s interest rate decision of the American Central Bank (Fed) is eagerly awaited by the markets, Bitcoin fell below 62 thousand dollars again. Bitcoin, which fell after reaching the peak of 73 thousand dollars in March and left those who made leveraged transactions in a difficult situation with its harsh movements, approached 2022 at the monthly closing.
Closing at the bear season level
The largest cryptocurrency, which will have its monthly closing tomorrow night, will have an April closing of over 12% if it cannot rise from this level. This level of monthly decline has not been seen since 2022. Historical events such as the Terra LUNA and FTX crashes in 2022, when the harshest periods of the bear season were seen, also reduced cryptocurrency prices to serious levels.
As seen in the table below, there were -37% closures in May, when the Terra LUNA collapse was seen in 2022, and -18% closures were seen in December, the month after FTX’s bankruptcy.
On the other hand, Bitcoin has not closed any month with a negative rate since August.
210 million dollars were liquidated
The sharp decline in Bitcoin led to the liquidation of $210 million worth of crypto positions in leveraged transactions. Of these, $150 million were long positions and $60 million were short positions. The liquidation level in Bitcoin alone (24 hours) was 60 million dollars.
Source: Coinglass
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Source: https://uzmancoin.com/bitcoin-nisan-piyasa-kripto-likidasyon/
