$1 Billion in Liquidations Over the Weekend
Industry players have labeled today, April 7, the crypto black Monday, a sentiment drawing from the bloodbath over the weekend.
Over the past two days, over $1 billion in long and short positions were wiped out by the weekend volatility.
Crypto Black Monday After Weekend Bloodbath
Data on Coinglass shows up to $116.59 million worth of positions were liquidated on Saturday, April 5. This comprised $33.02 million and $83.57 million in short and long positions, respectively.
The next day, the volume of traders and investors blown out of the water increased as crypto liquidations came in over $850 million. Like the day before, the lion’s share of these liquidations was long, at $743.115 million, against $107.881 million…
