Here’s Why the Crypto Crash is Happening and Liquidations Soaring
The recent crypto crash escalated today, November 14, with Bitcoin and most altcoins being in the red. Bitcoin price tumbled to $95,000, while the market capitalization of all coins tracked by CMC plunged by 3.43% to $3.30 trillion.
Crypto Crash Intensifies as Liquidations Jump
One of the main reasons the crypto market is crashing today is that liquidations are in a strong uptrend. Data shows that liquidations jumped by 255% on Friday to over $1.3 billion.
Bitcoin positions worth over $670 million were liquidated in the last 24 hours. Similarly, positions in Ethereum and Solana worth over $293 million and $87 million were liquidated in this period. Over 272k traders were wiped out…
