Bitcoin, Ethereum Fall Amid $1.5 Billion Crypto Liquidation Wave
Crypto just kicked off the week on a sour note.
Cryptocurrencies saw big declines on the back of a broad-based sell-off on Monday as positions worth $1.5 billion were liquidated, according to data from Coinglass, causing the price of tokens like bitcoin and ethereum to tumble.
Over 407,000 traders liquidated positions on the crypto derivatives market the 24 hours leading up to Monday, Coinglass data shows. That marks the biggest liquidation wave the crypto market has seen since March 27, according to the crypto trading platform.
Bitcoin dropped as much as 3% on Monday to trade around $111,000, before the coin pared its losses and climbed back above the $113k mark.
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