$117M in crypto long positions liquidated amid market downturn
Photo: Crypto Briefing
A report from WhaleInsider indicates that approximately $117 million in crypto long positions were liquidated over the last 24 hours. This event, suggestive of a substantial pullback in leveraged crypto derivatives, coincides with a broader decline in cryptocurrency prices, including Bitcoin near $80,000 and Ether between $2,300 and $2,370. The liquidations are consistent with forced deleveraging, reflecting market volatility and a shift in sentiment towards more cautious positioning by market participants. Comparable data from CoinGlass supports the scale of the liquidations, pointing to a challenging environment for leveraged long positions.
Source: Crypto Briefing
