Crypto Market Faces Over $1B in Liquidations as Bitcoin Slide Intensifies
The cryptocurrency market was hit by a wave of forced liquidations on Tuesday as Bitcoin (BTC) tumbled below $104,000, wiping out more than $1.2 billion in leveraged positions and shaking trader confidence.
The decline marked a 17% retreat from BTC’s record high earlier in October, when it briefly surged to $126,000. The sharp drop came as traders unwound risk and futures positions across major exchanges, signaling a shift toward caution after weeks of volatility.
Leverage Unwinds Across the Market
Data from CoinGlass showed that over $1.2 billion in long positions were wiped out in just 24 hours, with Bitcoin leading at $377 million in liquidations. Ethereum (ETH) followed closely, accounting for another $316…
