Bitcoin’s Sharp Drop Triggers $1.7 Billion Total Crypto Liquidations
Total liquidations exceeded $1.7 billion as Bitcoin (BTC) price dropped to establish an intra-day low of $94,150 on Monday. The profit-booking appetite extended to Tuesday, with BTC still stunted below the $97,000 threshold as of this writing.
It comes as crypto markets brace for a wild week, with multiple key US economic events on the calendar.
Total Crypto Liquidations Exceed $1.7 Billion
According to data on Coinglass, 583,530 traders were blown out of the water in the last 24 hours. Total liquidations exceeded $1.7 billion in the aftermath. Of these, at least $1.552 billion had been taken long positions, while $154.59 million were short.
