Crypto Market Sees $372.83M Liquidations as Bitcoin, Ethereum, XRP Surge
In the past 24 hours, the cryptocurrency market experienced a significant liquidation event, totaling $372.83 million. This surge in liquidations primarily affected short positions in major cryptocurrencies such as Bitcoin, Ethereum, and XRP, following unexpected market surges.
Bitcoin saw the highest concentration of liquidations, amounting to $70.57 million, followed by Ethereum with $69 million, and XRP with $42.5 million. These liquidations predominantly impacted retail traders who held short positions on these assets. Market analysts attributed the event to retail traders using excessive leverage, as there were no notable shifts in institutional positions or comments from industry leaders. Exchange data indicated that most…
