$217M crypto liquidation shocks traders worldwide: Over $217 million gone in 24 hours — traders stunned as massive crypto liquidation hits market
The cryptocurrency market faced a sudden shockwave as over $217 million in positions were liquidated in just 24 hours. Traders around the world were caught off guard. The sharp sell-off rattled even experienced investors and highlighted the fragile state of leveraged trading in digital assets.
Bitcoin and Ethereum, the market giants, led the decline. Both cryptocurrencies experienced steep drops that triggered automated margin calls on leveraged positions. Traders who had bet heavily on a price rebound saw their positions closed instantly, resulting in substantial losses.
Most of the losses came from long positions, where traders expected prices to rise. Approximately $167 million in long positions were wiped out, while around $50 million…
