Bitcoin Hits New 2024 Low of $58,035 as $715M in Crypto Long Positions Are Liquidated
By
Terence Zimwara
4h ago· 3 min readenNews
Summary
Bitcoin dropped to a new year-to-date low of $58,035 before recovering to ~$59,500, marking a 50% decline from its all-time high. The crash triggered $715 million in crypto long position liquidations. The article examines whether investor panic is justified or if this represents a broader macroeconomic reset, highlighting severe intra-day volatility despite the flat net price movement.
Source
bskyBitcoin Hits New 2024 Low of $58,035 as $715M in Crypto Long Positions Are Liquidatednews.bitcoin.comKey quotes
· 3 pulledBitcoin briefly plunged to a new year-to-date low of $58,035 on Thursday morning before staging a relief rally to trade flat around $59,500.
While the flat net performance paints a stable picture, the daily chart tells a different story—revealing violent price swings that triggered the moment bitcoin crossed below $
After a chaotic drop to $58,035, BTC enters a 50% haircut from its all-time high.
After a chaotic drop to $58,035, BTC enters a 50% haircut from its all-time high. Is investor panic justified, or is this just a macro reset?
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