BlockNews
FOLLOW ON X
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
Home BREAKING NEWS

Bitcoin and Ether Prices Drop, Leading to Major Liquidations in Crypto Markets

Matoy by Matoy
June 12, 2024
in BREAKING NEWS, CRYPTO
Reading Time: 2 mins read
2
SHARES
35
VIEWS
Share on XShare in TelegramShare on Reddit
  • Bitcoin dropped 2.5% to $66,018 and Ether fell 2.58% to $3,500, impacting traders using leverage in the crypto market.
  • A total of $190.97 million was liquidated across 83,912 traders, with the largest single liquidation order valued at $5.21 million on OKX.
  • Upcoming economic indicators like the CPI and FOMC meeting are closely watched as they influence market volatility and trading decisions.

Bitcoin and Ether witnessed notable declines, leading to substantial financial repercussions for traders using leveraged positions. On June 11, Bitcoin saw a decrease of 2.5% from its daily peak, closing at $66,018, while Ether dropped by 2.58% to end the day at $3,500.

These movements contributed to a dramatic day in the leveraged trading markets, where nearly $200 million was wiped out due to forced liquidations. According to CoinGlass, a total of $190.97 million was cleared from the books as 83,912 traders faced liquidation, highlighting the high stakes involved in crypto trading with borrowed funds.

Market Mechanics and Trader Impact

Leveraged trading allows investors to borrow money to increase their potential returns, but this comes with increased risks, especially when the market moves against their positions. If a trader cannot meet the margin requirements to maintain their positions, exchanges automatically liquidate their trades, often resulting in substantial losses. This was evident as Bitcoin traders suffered the most, with $46.9 million liquidated, followed by Ether traders who saw $41.0 million wiped out.

Economic Factors at Play

The market’s sharp movements are partly attributed to anticipation around key economic reports such as the Consumer Price Index (CPI) and decisions by the Federal Open Market Committee (FOMC). These factors are closely monitored by traders as they can significantly affect market liquidity and investor sentiment.

With the CPI expected to show minimal increases and the FOMC likely to maintain interest rates, traders are on high alert. The correlation between the crypto market and U.S. equities has been notably high, reflecting broader economic trends impacting investor behavior in digital asset spaces.

As the market braces for more updates, traders remain vigilant, understanding that economic indicators will continue to play a critical role in shaping the landscape of cryptocurrency investments.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: BitcoinEther
Tweet1ShareShare
Matoy

Matoy

If Matoy is not busy looking at the latest Web3 news, he's always in the kitchen cooking delicious meals for his family. He's also a competitive fighting game player and a car enthusiast

DON'T MISS THESE! HOT OFF THE PRESS

Chainlink Price Prediction: Can LINK Break $25 Resistance and Soar Toward $40?
CHAINLINK

Chainlink Price Prediction: Can LINK Break $25 Resistance and Soar Toward $40?

September 18, 2025
Why Worldcoin Could be the Biggest Sleeper Pick of the 2025 Crypto Bull Run
CRYPTO

Why Worldcoin Could be the Biggest Sleeper Pick of the 2025 Crypto Bull Run

September 18, 2025
What is Filecoin? A Full Review of FIL and its Huge Potential in 2025
CRYPTO

What is Filecoin? A Full Review of FIL and its Huge Potential in 2025

September 18, 2025
What Happened in Crypto Today? – September 18: Huge Altcoin News Going Into Q4
CHAINLINK

What Happened in Crypto Today? – September 18: Huge Altcoin News Going Into Q4

September 18, 2025
What Every Crypto Beginner Needs to Know Before Buying Their First Bitcoin
CRYPTO

What Every Crypto Beginner Needs to Know Before Buying Their First Bitcoin

September 18, 2025
First Ever U.S. Based Dogecoin ETF Launch Breaks Volume Records: What You Need to Expect Next
CRYPTO

First Ever U.S. Based Dogecoin ETF Launch Breaks Volume Records: What You Need to Expect Next

September 18, 2025
Load More

Related News

Chainlink Price Prediction: Can LINK Break $25 Resistance and Soar Toward $40?

Chainlink Price Prediction: Can LINK Break $25 Resistance and Soar Toward $40?

September 18, 2025
Why Worldcoin Could be the Biggest Sleeper Pick of the 2025 Crypto Bull Run

Why Worldcoin Could be the Biggest Sleeper Pick of the 2025 Crypto Bull Run

September 18, 2025
What is Filecoin? A Full Review of FIL and its Huge Potential in 2025

What is Filecoin? A Full Review of FIL and its Huge Potential in 2025

September 18, 2025
What Happened in Crypto Today? – September 18: Huge Altcoin News Going Into Q4

What Happened in Crypto Today? – September 18: Huge Altcoin News Going Into Q4

September 18, 2025
What Every Crypto Beginner Needs to Know Before Buying Their First Bitcoin

What Every Crypto Beginner Needs to Know Before Buying Their First Bitcoin

September 18, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews is your premier source for real-time cryptocurrency, blockchain, political and financial market news.

Stay ahead of the herd with BlockNews

RESOURCES

  • About Us
  • Contact Us
  • Editorial Policies
  • Terms and Conditions
  • Privacy Policy
  • Sitemap

DISCLOSURES AND POLICIES

BlockNews provides independent reporting on crypto, blockchain, and digital finance. Content is for informational purposes only and does not constitute financial advice. Sponsored material is always disclosed. By using this site, you agree to our Terms and Conditions and Privacy Policy.

© 2025 BlockNews

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • LITECOIN
    • CHAINLINK
    • SUI
  • MEMECOINS
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2025 BlockNews