Crypto Market Sees Major Liquidation Event Amid Sudden Downturn
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 (BTC) accounting for $140.06 million of that total as it dropped 2.63% to $115,356.
Ether (ETH) followed with $104.76 million in long liquidations, falling 1.33% to $3,598 over the same period.
Dogecoin (DOGE) led the losses among the top 10 cryptocurrencies by market capitalization, dropping 7% over the past 24 hours to $0.22 and wiping out $26 million in long positions,
