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Over the past 24 hours, the crypto market has witnessed liquidations totaling more than $1.2 billion. Data shows that long positions accounted for the majority of the liquidation with $711.24 million, while shorts comprised $308.30 million of the losses.
Bitcoin (BTC), Ethereum (ETH), and others continued to remain in the red since last week's crash triggered by President Donald Trump's announcement to impose 100% tariffs on Chinese goods. Despite his recent U-turn on the decision, the market remained cautious.
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At the time of writing, BTC was clocking $349.55 million in liquidation, comprising $229.52 million in long and $120.03 million in short. It was down by 1.8%, trading at $106,607, as per Kraken.
Ethereum slipped by 3.5% to change hands at $3,798.22, triggering a liquidation of $235.91 million comprising $169.76 million in long and $66.15 million in short.
Solana (SOL), XRP (XRP), and Dogecoin (DOGE) were also showing major declines. SOL, which was down by 3.9% and trading at $182.99, witnessed $79.19 million being liquidated. XRP's liquidation was around $25.94 million and was down by 3.7%. Doge, trading 4.6% lower, saw $19.26 million wiped out.
This article has been published in thestreet.com via Yahoo News.
Crypto markets hit by massive liquidations once again
Over the past 24 hours, the crypto market has witnessed liquidations totaling more than $1.2 billion. Data from Coinglass shows that long positions accounted for the majority of the liquidation with $711.24 million, while shorts comprised $308.30 million of the losses. Bitcoin ...
finance.yahoo.com
