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$7.6 billion in crypto long positions liquidated in one hour as bitcoin plunges to $52,000

$7.6 billion in crypto long positions have been liquidated over the past hour as bitcoin's price plunged to $52,000, data from bybt.com shows .
Bitcoin's price began to trend downwards early Saturday, but the steep plunge began around 3:00 UTC on Sunday. 
Bitcoin's price dropped by more than 10% over the past hour, from $58,000 to below $52,000, during which around $4.3 billion in bitcoin long positions were liquidated.
As of the time of writing, bitcoin's price has bounced back to around $55,000.
Overall, $9.2 billion in crypto long positions have been liquidated in the last 24 hours. 
  © 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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