Crypto Market Sees $260M in Liquidation as Bitcoin Loses Momentum
The cryptocurrency market faced turbulence in the past 4 hours, with it seeing a liquidation of over $260 million as Bitcoin briefly fell to $101K amid increased uncertainty. The sharp wave of liquidations coincides with huge selling pressure, as the market loses its bullish momentum and sparks volatility that has caught traders off guard across major exchanges.
According to Coinglass data, Bitcoin bore the brunt of the liquidations, impacting both long and short positions, accounting for roughly $84.713 million of the liquidations, while Ethereum contributed $58.40 million.
Other cryptocurrencies also reflected the market-wide impact, with most liquidations involving the closure of long positions.
Bybit, the second-largest crypto…
