Nearly $2 Billion Wiped Out in Crypto Liquidations Amid Brutal Sell-Off
The crypto market experienced nearly $2 billion in liquidations over the past 24 hours, as the total market capitalization dropped below $3 trillion for the first time in five months.
Bitcoin (BTC) alone accounted for nearly half of the total liquidations, with traders betting on further upside taking the biggest losses during the latest wipeout.
According to data from Coinglass, the cryptocurrency space has experienced another significant liquidation event. Over the past 24 hours, 391,164 traders were liquidated, pushing total liquidations to $1.91 billion.
Long positions represented $1.78 billion of the total liquidated, while shorts totaled just $129.3…
