With the sudden decline, the Bitcoin (BTC) price lost 3% of its value within minutes and fell to $ 68,500 at its bottom.
It is estimated that the reason for the decline was the live organized by RoaringKitty, the most well-known influencer of GameStop shares. The live broadcast in question is followed by approximately half a million people and is also broadcast live on economic giant channels such as CNBC.
During RoaringKitty's live broadcast, GameStop shares fell sharply, bringing the influencer's total loss to $235 million. The shares in question can be considered equivalent to memecoins in the cryptocurrency industry.
In addition, the data shows that there has been a heavy liquidation of approximately 300 million dollars in the cryptocurrency market in the last hour. $285 million of the liquidations are in long positions and the rest are in short positions. However, it is noteworthy that a significant portion of the liquidations are in other altcoins such as Bitcoin, Ethereum, Dogecoin, Solana.
![](https://cnews24.ru/uploads/594/594b75c47da14f3bcde99b3e5a17b99d7dc54829.png)
It is thought that most liquidations occurred in low market value memecoins.
The liquidation amount in Bitcoin is limited to 44 million dollars.
*This is not investment advice.