$1.10 Billion Crypto Liquidation in Bitcoin Crash, What’s Happening? 💸
A sudden drop in Bitcoin led to the liquidation of $1.10 billion worth of long and short positions within 24 hours. This significant financial movement is primarily attributed to Bitcoin, which alone accounted for $565 million of the total liquidation. Of this, $417 million were from long positions and $145 million from short positions.
This massive liquidation indicates a turbulent phase in the crypto market, raising concerns among traders and investors. The sharp decline in Bitcoin's value reflects underlying volatility in the cryptocurrency market, which could have wider implications for other digital assets as well.
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