Reported 7 months ago
The cryptocurrency market faced a major selloff, leading to liquidations totaling $270.4 million in leveraged positions, notably with long positions accounting for the majority. Bitcoin and Ethereum saw declines of 3.5% and 4.6% respectively, resulting in significant liquidations. Binance emerged as the top exchange for these liquidations. The market downturn coincided with pending economic updates like the Consumer Price Index report and a Federal Reserve monetary policy announcement, hinting at the impact of broader market dynamics on cryptocurrencies and the adoption of more cautious trading strategies by investors.
Source: YAHOO