Bitcoin price drops more than 2% in an hour, leading to $127 million in long liquidations.
Bitcoin (BTC) price fell over $2,000 in 1 hour on May 10 as a sudden wave of volatility disrupted an otherwise quiet market.
Data from Cointelegraph Markets Pro and TradingView showed that leveraged long traders were caught offside as BTC price suddenly dropped from a high of $63,494 on May 10 to an intra-day low of $60,308.
At the time of writing, the losses were still mounting, with the flagship cryptocurrency having lost more than 2.5% of its value over the last 24 hours.
