Crypto Market Hit By US$1.5 Billion Liquidations As Bitcoin, Ether Slide
Cryptocurrency markets tumbled on Sept 22 as more than US$1.5 billion in bullish bets were liquidated, triggering the steepest wave of losses since March and wiping hundreds of billions off digital-asset valuations, Bloomberg reported.
Ether, the world’s second-largest token, plunged as much as 9% to US$4,075 after nearly half a billion dollars of leveraged long positions were liquidated, according to Coinglass. Bitcoin sank 3% to US$111,998 before clawing back some losses, while other coins such as Solana, Algorand and Avalanche also dropped.
Data showed over 407,000 traders saw their positions liquidated in 24 hours, dragging the overall crypto market below US$4 trillion, CoinGecko reported. By mid-morning in London, Bitcoin…
