There is growing fears and panic which intensified on Wednesday morning among cryptocurrency investors as Bitcoin dipped to $39,750.

Several forces including comments by major investors forced the coin and other alternative coins to lose as much as 10%, with many forced to sell-off coins to avoid further losses.

Most current data from Glassnode reveal in the past few hours, Binance the world’s largest crypto exchange recorded the highest Bitcoin inflows ever, suggesting a lot of investors are trying to cut their crypto losses.

For the day, about 165,202 investors were liquidated with the largest single liquidation order on Bybit-ETH valued at $12.25 million.