Cryptocurrency Market Faces Significant Liquidation as Traders Bet on Long Positions
Major cryptocurrencies on Thursday evening dropped as traders betting on long positions faced substantial liquidation. According to the data from Coinglass, the past 24 hours have seen over $200 million worth of cryptocurrency long positions liquidated. Specifically, for BTC, longs worth over $65 million were liquidated, while for ETH, over $27 million in longs faced the same fate. The total number of traders liquidated in this period stands at 90,781, with the total liquidation amount reaching $227.91 million for both long and short positions. Notably, the largest liquidation order occurred on Binance for BTC-USDT, amounting to $7.31 million.
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