Bitcoin price below $64,000 as $209 million in Crypto Longs Liquidated

Bitcoin prices slipped below $64,000 on Thursday morning, leaving the market with more than $209 million in crypto long positions falling overnight.

With information from CoinGeckoBitcoin is currently trading around $63,700, down 4% on the day.

as a Bitcoin As it tumbled, the broader crypto market crashed, with the total market value of all cryptocurrencies down 4.7% overnight. EthereumThe second-largest cryptocurrency by market value, it suffered a similar fate to Bitcoin, falling 5.3% in the last 24 hours to hover around $3,090..

Among the top 10 cryptocurrencies, Toncoin (Ton) has fallen 10.1% in the last 24 hours to trade at $5.21.

According to CoinGlass data, more than $209 million in crypto long positions were liquidated, compared to more than $52 million in Bitcoin long positions. Longs are derivative contracts that allow investors to bet that asset prices will rise. If it is long liquid, the trader loses the bet and their position is closed.

The decline comes as BlackRock's spot bitcoin ETF dries up, ending a 71-day run after breaking into the top 10 for the longest ETF daily earnings streak since 2004.

On the other side of the board, base CoinGlass dataBitcoin spot ETFs hit $120.6 million after three straight days of gains.

This comes as the Hong Kong spot Bitcoin and Ethereum ETFs were officially approved yesterday The transaction date is set for April 30. Experts believe that this action can bring up to 25 billion dollars To the crypto market, ETFs should be opened to investors in mainland China.

on the weekend Halving Bitcoin It happened, an event where Bitcoin miners saw their rewards cut in half. In history, this was an event Congestion in the long runis often seen Losses in the short term. Bitcoin has fallen 2% since hitting a mid-day high of $65,230, while the leading cryptocurrency fell below $64,000.

Alongside the challenge, a new Bitcoin token standard has been called for. Runes Released. These tokens, which are essentially meme coins for Bitcoin, Controlled the network, To be responsible for the matter More than 81% of transactions on Tuesday.