Bitcoins Value Plummets as a Result of Mt Gox Fund Transfers

More than 230,000 investors were impacted by the wave of liquidations that started as Bitcoin and altcoin prices fell. Bitcoin accounted for the majority of the $222.1 million in liquidations, with most of the liquidated positions being long positions, totaling around $181.8 million. Ethereum, the altcoin king, also saw a significant decline, with $163.4 million in liquidations, the majority of which ($143.3 million) were long positions. This led to a significant drop in Ethereum’s price by 10.57% to $2,890.