Crypto Market Loses $100B Overnight
Liquidations in the crypto market in the past 24 hours surged past $800 million following a steep drop in crypto prices heading into the new week.
According to data from CoinGlass, about $874.79 million was liquidated. Bullish bets that prices would rise took the biggest hit, accounting for over $788 million of the amount liquidated in the market throughout the past 24-hour cycle.
Long positions for crypto market leaders Bitcoin (BTC) and Ethereum (ETH) made up the lion’s share of the amount. More than $233 million was wiped out from bullish bets for Bitcoin, while another $155.82 million was liquidated from ETH longs.
The balance between long and short positions has seemingly levelled off in the past hour. In the last 60 minutes, $1.01…
