$ 2.5 billion in liquidation per day! Zhao Changpeng's debt fell by more than $ 1.6 billion and the currency market panicked.

Bitcoin (BTC) lost over 20% in one day for four days to $ 42,000, then rebounded 17% in one day in five days, hitting $ 50,000. And it is constantly evolving. It reported a decline of 0.15% in the past 24 hours to $ 48,883 from the close date.

According to data from CoinGlass, due to market volatility, the capital of the entire cryptocurrency network has exploded with a daily turnover of $ 2.587 billion in 4 days, according to determine the length of the states -United. . The value of the short sale is $ 2.99 billion and $ 497 million. Two days ago, the total network-wide cryptocurrency liquidation amount returned to normal, and the total network-wide liquidity of the 5th and 6th fundraising reached $ 309 million and $ 84.2 million. , as.

According to data from Alternative.me, the Crypto Fear & Greed Index is currently at 16, and industry demand is in a state of horror, hitting the new low since July 21.

Zhao Changpeng's debt fell by $ 1.62 billion per day.

It is worth noting that Binance Coins (BNB) plunged nearly 13% today due to the total collapse of the cryptocurrency market on the 4th. According to Forbes, Binance founder Zhao Changpeng of a value of about $ 90 billion, could lose more than 10 billion yuan per day.

According to earlier public documents, the Binance Group owns around 40% of Binance Coins, and “Forbes” data shows Changpeng Zhao owns 30% of Binance Coins. Daily, RMB (approximately $ 1.62 billion).

Market awaiting opening the market is still there

In response to this disappointment, according to previous data, as well as concerns about the new Omicron virus, investors expected the Fed to cut debt purchases, raise interest rates and sell risky assets, prompting investor interest in the process. For explosion-proof warehouses. , on the contrary, it led to a scale of the scale of the conflict.

'CoinDesk' reported on the 4th that at the time of the downturn, the total bitcoin trading volume of 11 major cryptocurrency exchanges peaked at $ 20 billion on the same day. The unfortunate reason is that traders and investors wait for the regular market to open on Monday.

“CoinDesk” pointed out that the stock market was in a difficult situation as the new Omicron virus began to spread around the world.

Bitcoin's plunge could pull US commodities

A decline in an asset like Bitcoin in underperforming assets could erode the confidence of many investors, according to a Bloomberg analysis. The funds held in investor money have fallen by around $ 250 billion so far, which could further stress the stock market.

“Bloomberg” noted last week that the U.S. equity and cryptocurrency markets fell sharply at the same time, proving that Bitcoin remains an unprotected hedge for financial companies. .

President Mangroup sees that the relationship between Bitcoin and core assets is close to zero, but while the US stock market has fallen more than 5% over the past month in the last ten years Previously, Bitcoin made up 86% of the time, and the result. fall is average. 13%.

ManGroup said that "Bitcoin is considered a key risk / risk averse asset," so if Bitcoin remains low, especially if it continues to fall, that will be an important warning signal for other risky assets this week. .

Matthew Tuttle, CEO of Tuttle Capital Management LLC, agrees, noting that while crypto bulls prefer to view Bitcoin as an option, it is more profitable.

According to Matthew Tuttle, the Bitcoin based asset is being sold which is not good for the stock market as it is influenced by risk taking / risk aversion. The US stock market closed stably last Friday, but Bitcoin's massive selloff didn't help all speculation.