$567,390,000 in Liquidations Hits Crypto Markets As Analyst Warns of ‘Trouble Area’ for Altcoins
Digital assets markets started off the week in the red after Bitcoin (BTC) lost the $100,000 level and fell to $97,470, dragging most altcoins into corrections as well.
According to crypto data aggregator CoinGlass, there have been over $567 million in liquidations in the last 24 hours, most of them leveraged long positions in Bitcoin.
Closely followed analyst Rekt Capital tells his 519,000 followers on the social media platform X that the correction in altcoins has happened at a key point of resistance in the OTHERS chart, which tracks the total market of digital assets excluding the top 10 and is often used to gauge altcoin strength.
“Altcoin Market Cap has performed a Weekly Close above $425bn (black) for the 1st time…
