Long positions took the brunt of the damage at $1.8 billion, on-chain data shows.
Crypto liquidations surged past $1.9 billion in the past 24 hours as Bitcoin plunged to $63,320, its lowest level since mid-August, extending a decline that took it below $69,000 on Friday.
Long positions accounted for roughly 93% of the $1.9 billion in liquidations, totaling $1.8 billion, while short liquidations reached $123.5 million, CoinGlass data shows. Selling accelerated over the final four hours of the period, when $925 million in positions were wiped out, almost all of them bullish bets.
Crypto’s total market capitalization shed nearly 6% in 24 hours to $2.3 trillion as losses spread across major altcoins, per CoinGecko….
