---
title: "Over $400 Million Liquidated as Bitcoin (BTC) Price Slumped to Weekly Lows Under $41K"
url: https://diffcoin.com/over-400-million-liquidated-as-bitcoin-btc-price-slumped-to-weekly-lows-under-41k/
description: "Aside from BTC, many altcoins, including XRP and ADA, have plummeted hard as well."
published: 2023-12-11
updated: 2023-12-11
author: "Mila"
site: "Diffcoin"
---

# Over $400 Million Liquidated as Bitcoin (BTC) Price Slumped to Weekly Lows Under $41K

Bitcoin was trading steady at around $44,000 before the bears took control over the market and initiated a massive dump that drove the asset to a weekly low of just under $41,000.

With most altcoins in a similar freefall state, the total value of liquidated positions has skyrocketed to over $400 million on a daily scale.

![BTCUSD. Source: TradingView](data:image/svg+xml;base64,PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHZpZXdCb3g9IjAgMCAxNzkzIDc0NyIgd2lkdGg9IjE3OTMiIGhlaWdodD0iNzQ3IiBkYXRhLXU9Imh0dHBzJTNBJTJGJTJGY3J5cHRvcG90YXRvLmNvbSUyRndwLWNvbnRlbnQlMkZ1cGxvYWRzJTJGMjAyMyUyRjEyJTJGQlRDVVNELTEwLnBuZyIgZGF0YS13PSIxNzkzIiBkYXRhLWg9Ijc0NyIgZGF0YS1iaXA9IiI+PC9zdmc+)

BTCUSD. Source: TradingView

*CryptoPotato* reported over the weekend that BTC remained relatively calm at around $44,000 following the bullish business week, in which the cryptocurrency soared by more than 11%.

This resulted in tapping $44,700 at the end of the week, which became its highest price tag in over a year and a half.

However, Monday morning started on a negative note with a massive price dump that drove the largest cryptocurrency south hard. In a matter of an hour, BTC slumped from around $44,000 to just under $41,000 (on Bitstamp) to register a weekly low.

It has recovered some ground and currently trades above $42,000. However, this has only harmed over-leveraged traders as the total value of liquidated positions has soared to more than $400 million on a 24-hour scale.

The number stands at $360 million in the past 12 hours. In total, 120,000 traders have been liquidated within the past day, and the single largest wrecked position was worth over $8 million and took place on OKX.

The altcoins are in no better shape, as Ripple, Cardano, Polkadot, Chainlink, Shiba Inu, and many others have dumped by over 6% in a day. Avalanche is the only larger-cap alts sitting in the green now.

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[Source link](https://cryptopotato.com/over-400-million-liquidated-as-bitcoin-btc-price-slumped-to-weekly-lows-under-41k/)