Crypto Market Sees $580M Long Liquidations in BTC, ETH, XRP
The crypto market saw long liquidations worth nearly $580 million in Bitcoin (BTC), Ethereum (ETH), and others. On-chain data shows that the recent liquidation event has made many traders doubt if the crypto market will suffer more losses.
Looking at the broader crypto market, it has dropped 1.46% and currently stands at $3.27 trillion. Ethereum witnessed a drop of 2.24% while XRP decreased by 0.70%.
In the last 24 hours, Bitcoin was responsible for $134 million in long liquidations. The world’s most popular cryptocurrency has been exposed to many leveraged position closures, as traders who expected it to go higher were surprised by price falls.
Meanwhile, 251,319 traders got liquidated today. Further, the total crypto market…
