Following Powell’s hawkish remarks, investors lost their risk appetite.
As US stock markets traded with losses of around 1% ahead of tomorrow’s US employment data, Bitcoin fell to the $21,000 level.
If the decline deepens, $20,400 will be followed as a technical support and $20,000 as a psychological support.
The Bitcoin drop has hurt 42,000 traders trading on futures markets. In the last 24 hours, the positions of 42,000 traders were liquidated, and the total liquidations exceeded $130 million.
During the last hour when Bitcoin dropped to $21,000, the liquidation was $46 million. The biggest liquidation was $14 million on the OKX exchange, while the highest liquidation was seen in BTC with $26 million.