Bitcoin falls below $40K during broader market sell-off. thesamreynolds reports.
Bitcoin's price fell below $40,000 for the first time in months in the early hours of Jan. 21.
Other layer-1s such as Solana and Cardano have also been dragged down, posting declines of 9% and 10% respectively. Binance led the exchange pack in liquidations at $173 million, with 91% being long positions. Asia-focused exchange Okex was next at $170 million, with the majority being longs. In its daily research note note, Delphi Digital wrote that investors are pricing in numerous rate hikes which is significantly impacting risk assets.
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