$800 Million in Crypto Wiped Out as Market Crashes
After an impressive upward rally, the overall cryptocurrency market fell sharply again, eliminating almost all of its earnings. As chain analytics company Coinglass reported, this sharp decline not only instills investor fear, but also leads to millions of dollars intraday traders liquidation.
Coinglass data shows that about 222,235 traders were liquidated due to ongoing market uncertainty, resulting in a total value of $801.3 million in cryptocurrency. also, Small shop The data further suggest that the largest single clearing order occurs on BITMEX.
In these substantial liquidations over the past 24 hours, most people came from long positions, with more than $665 million in long positions being liquidated. After the announcement of the crypto strategic reserves, yesterday, this major long-term liquidation may have been caused by bullish sentiment from merchants.
In addition to these liquidations, the highest assets have also dropped significantly, including Bitcoin (BTC), Ethereum (ETH), XRP and Solana (SOL). Data from CoinMarketCap shows that these assets have lost more than 9%, 15%, 18% and 20% of their value in the past 24 hours.
Today, Bitcoin (BTC) trading is close to $85,410 after the price drops by 9%. This significant decline led to a 30% increase in trading volume, indicating an increase in traders and investors’ participation.
