Bitcoin (BTC) Prints 'End of the World' Candle: $1.6 Billion Liquidation Triggers Drop

The "end of the world" candle printed on the Bitcoin chart is indeed pushing fear into crypto holders. This is not just a sell-off : it was fueled by futures CVD falling by $5.7 billion, while the spot market also saw a spike, with CVD down $438 million. Since November 11, Bitcoin has lost roughly 9% of its value, with the lowest point at $67,449. In cases like this, the usual explanation is a liquidation cascade triggered by one thing or another. Considering that this comes amid $1.65 billion in liquidations, it is no surprise that the spot and futures markets moved in sync and triggered a sell-off. According to data from the analytical platform CoinGlass, 187,171 traders were liquidated across exchanges over the past 24 hours.

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