Reported 8 months ago
Bitcoin experienced a significant drop in value, leading to the liquidation of over $420 million in long positions within 24 hours. Data from Coinglass shows 190,144 traders being liquidated, with total liquidations reaching $480.93 million, $420 million of which were long positions. Major exchanges like Binance, OKX, and HTX saw approximately $372 million in long positions being liquidated. The drop in Bitcoin's value also caused altcoins like Ethereum, Solana, Toncoin, and Cardano to plummet, emphasizing the correlation between Bitcoin and the wider cryptocurrency market and the inherent volatility of the market.
Source: YAHOO