Once again, Bitcoin fell to levels below 40 thousand dollars, and fell to the level of 35 thousand dollars.

Rapid and sudden decline is usually accompanied by large liquidations.

As Bitcoin dropped to $35,000, it liquidated $680 million in the last 12 hours.

The Bitcoin correction this time is a deep correction that has led to the decline of most altcoins, big and small, in double digits.

Yesterday we in Bitcoin Arabs reported a market crash as Bitcoin plummeted $5,000 a day to a six-month low of $38,000.

Altcoins were even worse, as Ethereum lost its coveted $3,000 price point.

This boosted volatility caused $700 million in liquidations over a 24-hour period.

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While the bulls were expecting some sort of brief recovery today, the situation worsened even further.

Bitcoin held around $38,000 for a while before another dump pushed it to its lowest price since the end of July at around $35,000.

As with yesterday, the situation with altcoins is even worse.

Double-digit price drops are evident almost everywhere.

The price of Ethereum dropped by 14% to $2,466, Binance Coin fell by 18%, Solana by 18% and many more.

Terra is among the worst performers, with a 25% offload to below $60, and Shiba Inu’s drop is somewhat similar.

As a result, liquidations began to rise again.

Show data fromCoinglass(formerly Bybt) that more than $680 million has been liquidated in the past 12 hours.

On a daily basis, the figure is close to a billion dollars.

In total, 270,000 traders were liquidated in this time frame, with the largest liquidation happening on Bitmex and this time worse than the $9 million recorded yesterday.

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