$3.7B in Crypto Longs Wiped Out This Week
- Over $3.7 billion in long positions were liquidated this week.
- Sharp price drops triggered mass liquidations across exchanges.
- Market volatility continues to shake investor confidence.
In the past week, the crypto market witnessed a dramatic shake-up as more than $3.7 billion worth of long positions were liquidated. This mass liquidation event has left many traders stunned, especially those who were betting on prices to go up.
A long position in trading means a trader expects the price of an asset to rise. But when prices fall sharply and hit stop-loss or margin call levels, exchanges automatically liquidate these positions to prevent further losses — and that’s exactly what happened on a massive scale…
