Crypto liquidations hit $939 million, Bitcoin and Ethereum longs wiped out

The cryptocurrency market saw its largest wave of forced margin position liquidations since August during the overnight session on October 15, as a sharp price drop triggered the closure of leveraged positions across major digital assets. Daily liquidation volume across the market reached $939.3 million, with data from CoinGlass showing that holders of long positions accounted for $791.62 million, or 84.3%, of the total losses. Significant price declines led to a rapid unwinding of speculative positions in the derivatives market, reducing overall leverage. Bitcoin and Ethereum traders bore the brunt of the liquidations, losing $215.49 million and $286.11 million respectively.

Source: CoinTurk News