Though the remainder of the cryptocurrency market has remained primarily flatlined over the previous 24 hours or so, Bitcoin Money simply plunged by over 5% in minutes.
The transfer drove the favored altcoin from over $482 to $457 earlier than it discovered some help and now trades near $459.
This sudden and somewhat sudden drop got here amid stories that an unknown whale had disposed of a giant chunk of BCH tokens.
Knowledge shared by well-known analyst CW steered that this entity offered off over 60,000 BCH in minutes, which led to an on the spot and violent uptick within the promoting quantity.
Somebody prompted a drop by promoting over 60,000 $BCH in a brief time period. pic.twitter.com/q6j8FvUrjR
— CW (@CW8900) March 29, 2026
CoinGlass exhibits that nearly $2.5 million value of leveraged BCH positions have been worn out prior to now 24 hours. Expectedly, the bulk ($2.4 million) was wrecked prior to now few hours when the value calamity unfolded.
Which means 10% of the entire liquidations prior to now 4 hours got here from BCH’s drop, which is kind of logical given the truth that the remainder of the market has proven little to no strikes in the identical timeframe.
Furthermore, most of it was from a single place, which turned the biggest liquidation in the present day. $2.15 million was liquidated on Binance involving the BCH/USDT buying and selling pair.
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