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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/cryptocurrency-market-faces-liquidation-shock/" data-wpel-link="internal">Cryptocurrency Market Faces Liquidation Shock</a><br></p>
<p class="p1" style="text-align: justify">On June 11, Bitcoin fell by 2.5% from its daily high of $69,547 to $66,018. Ethereum experienced an even larger drop, falling by 2.58% to $3,500. The decline in the <a href="https://en.coin-turk.com/regulatory-challenges-escalating-in-cryptocurrency-industry-a-closer-look/" data-wpel-link="internal">crypto market</a> significantly impacted the futures market, wiping out approximately $200 million.</p> 
<h2 class="p1" style="text-align: justify" id="liquidation-shock-in-the-crypto-market">Liquidation Shock in the Crypto Market</h2> 
<p class="p1" style="text-align: justify">According to <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> from crypto analysis firm CoinGlass, 83,912 traders were liquidated in the last 24 hours, totaling $190.97 million in liquidations. The largest single liquidation order occurred on OKX with an ETH/USDT swap value of $5.21 million. When an investor fails to meet margin requirements or runs out of funds to maintain an open position, the exchange liquidates a leveraged position, leading to partial or complete loss of the investor’s initial margin.</p> 
<p class="p1" style="text-align: justify">Bitcoin <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> were the biggest losers in the last 24 hours, with $46.9 million in liquidations; $36.8 million from long positions and $14.07 million from short trades. Ethereum investors recorded the second-largest liquidation with $41.0 million, comprising $31.3 million from long positions and $9.68 million from short trades.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-361629 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/coinglass.webp" alt="" width="1087" height="544"></p> 
<p class="p1" style="text-align: justify">The liquidation occurred just days after the crypto market recorded $400 million in liquidations on June 7. The recent market correction following the liquidation in the futures market is linked to the upcoming May Consumer Price Index (CPI) report and the Federal Open Market Committee (FOMC) release on June 12.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-361628 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/liq.webp" alt="" width="1879" height="559"></p> 
<h2 class="p1" style="text-align: justify" id="what-to-expect-in-the-market">What to Expect in the Market?</h2> 
<p class="p1" style="text-align: justify">Historically, as investors try to separate risk, the release of CPI data and FOMC rate changes have had a volatile impact on the crypto market. Currently, the 30-day correlation of the crypto market with US stocks is at its highest level since 2022.</p> 
<p class="p1" style="text-align: justify">When CPI rises, Bitcoin’s price usually falls. The crypto asset market as a whole is no exception. When people face price increases in necessities, they have less cash on hand and thus less money to invest. Reports indicate that while the FOMC is expected to keep the benchmark lending rate unchanged at the 5.25%-5.50% range, CPI data is expected to remain between 0.1% and 0.3%.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/cryptocurrency-market-faces-liquidation-shock/" data-wpel-link="internal">Cryptocurrency Market Faces Liquidation Shock</a></h5>

Cryptocurrency Market Faces Liquidation Shock

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