$200 Million In Crypto Longs Wiped Out As Altcoins Crash To Start Week — TradingView News
Data shows that the cryptocurrency derivatives sector has seen a high amount of liquidation during the past day as Ethereum and other altcoins plunged.
Altcoins Have Just Witnessed Massive Long Liquidations
According to data from CoinGlass, liquidations have piled up on the cryptocurrency futures market in the last 24 hours. “Liquidation” here refers to the forceful closure that any open contract undergoes after it has accumulated losses of a certain degree.
When a large amount of liquidations occur at once, the event is popularly known as a squeeze. The chances of a squeeze taking place come down to two factors. The first is naturally the volatility, as a larger swing in the price would mean a wider span of contracts gets pushed into…
