Over $560 million in crypto longs liquidated amid sharp price swings
Over $560 million in long cryptocurrency positions were liquidated within a 24-hour period, significantly impacting Bitcoin and Ethereum traders on major exchanges such as OKX and Binance [1]. The event was triggered by sharp price volatility and leveraged positions failing to meet margin requirements, leading to forced closures [2]. Ethereum experienced the largest liquidations at $96 million, followed closely by Bitcoin at $67 million [4]. The figures highlight the ongoing risks associated with leveraged trading in the crypto market, despite price gains in both BTC and ETH during the same period [2].
The liquidations primarily affected traders holding leveraged positions on major exchanges, with the sudden price adjustments causing…
