tl;dr
Bitcoin experienced a significant drop, reaching its lowest price in nearly a month at $65,240, down over 2% in a day and about 8% over the past week. This led to a flurry of crypto long position liquidations, totaling over $100 million within an hour and $150 million over the past day. The liquidat...
Bitcoin fell Friday to its lowest price in nearly a month, reaching $65,240, down over 2% in a day and about 8% over the past week. This led to a flurry of crypto long position liquidations, totaling over $100 million within an hour and $150 million over the past day. Liquidations spiked to $180 million in 24 hours, including $103 million worth of long positions. Ethereum is currently trading at $3,398, down 1.7% for the day and 10.1% for the week, with liquidations reaching $30.1 million. Solana is trading at $141.33, down 4.1% for the day and 16.2% for the last seven days, with liquidations of Solana long positions at $11.5 million.
This trend follows earlier liquidations and price dips linked to economic reports and Federal Reserve announcements. On Tuesday, $245 million worth of crypto long positions were liquidated ahead of the release of the U.S. Bureau of Labor Statistics report for May. On Wednesday, the price of Bitcoin dipped after the Federal Reserve left interest rates unchanged for the 11th consecutive month, leaving the door open to a one-rate cut.
Editor's note: This story was updated after publication with additional details.
More about MicroStrategy Incorporated
MicroStrategy Incorporated provides global business analysis software and services. The company is headquartered in Tysons Corner, Virginia.
Sector: TECHNOLOGY
Industry: SERVICES-PREPACKAGED SOFTWARE
Revenue: 26320173000
Dividend Yield: None
Market Cap: None
Price/Earnings Ratio: -10.68
EPS: 32.62
Profit Margin: -0.174
Shares Outstanding: 489592000
Beta: 1756.95
Volatility: -0.775
Return on Equity: -0.055