Crypto Liquidations Surge as Bitcoin Slips Below $80K and Leverage Gets Flushed

Crypto traders have received another reminder of the risks of leverage after Bitcoin’s move below $80,000 triggered hundreds of millions of dollars in forced liquidations. More than $815 million in leveraged crypto positions were liquidated over 24 hours during the recent sell-off, with long positions accounting for the overwhelming majority of losses. The move comes as derivatives activity remains elevated and traders position around the Federal Reserve, creating conditions for further volatility. Between 8 a.m. and noon ET alone, nearly $402 million in long positions were liquidated.

Source: Crypto Daily