The number of traders liquidated soared above 100,000 and the total shattered exceeded $400 million as Bitcoin plunged to its lowest price position since March 25.
Currently, most altcoins are in worse shape.
The cryptocurrency market performed well in late March when Bitcoin jumped above $48,000 and hit a three-month high.
Altcoins followed the lead of Bitcoin, with Ethereum hitting a similar three-month high.
April started a bit slow and bitcoin started losing value.
It recouped most of its losses initially but earlier in the day retraced to just over $44,000.
As it usually happens, altcoins mimic the downtrend of Bitcoin, and most of them have even posted larger price losses.
Ethereum price fell to $3200, while Binance coin struggled to stay above the $425 level, while Solana, Polkadot, Avalanche, MATIC, ATOM and LINK lost about 10% on the daily range.
To some extent, it is expected that this enhanced volatility has caused a large number of liquidations, according to Coinglass data.
The platform shows that the total of filters jumped to more than $400 million over a 24 hour period and that the number of shattered users reached nearly 135,000.
The largest single liquidation order occurred on the Okex trading platform and the liquidated position was valued at approximately $5 million.
