Bitcoin tumbles below $116K in bloodbath for crypto longs
More than half a billion in long positions were liquidated across the crypto market on Friday as the price of Bitcoin slipped below $116,000 amid a broader market tumble.
According to CoinGlass data, $585.86 million in long positions were liquidated, with Bitcoin accounting for $140.06 million of that total as it dropped 2.63% to $115,356.
“Dump is a pure leverage flush,” says trader
Ether followed with $104.76 million in long liquidations, falling 1.33% to $3,598 over the same period.
Over the past 24 hours, the crypto market saw 731.93 million in total liquidations. Source: CoinGlass
Dogecoin led the losses among the top 10 cryptocurrencies by market capitalization, dropping 7% over the past 24 hours…
