Crypto market sees $1.84 billion in liquidations as bitcoin and ether prices plunge
By
Shaurya Malwa
10d ago· 3 min readenNews
85/100
Golden Brown
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Pure flour-power. Hearty enough to carry you through lunch.
Score85TypenewsSentimentvery negative
Summary
Crypto markets experienced a massive liquidation event with $1.84 billion in leveraged positions wiped out in 24 hours, the largest since February 5. Long traders bore the brunt of losses at $1.66 billion, as bitcoin dropped below $66,000 and ether broke under $1,900. The single biggest unwind was a $59.67 million BTC-USDT long position on HTX.
Key quotes
· 3 pulledCrypto traders hoping the market would catch up to the global stock rally were left nursing tears on Wednesday as a sharp price drop triggered the largest liquidation event since early February.
Roughly $1.84 billion in crypto leveraged positions were liquidated across the past 24 hours as bitcoin plunged below $66,000 and ether broke under $1,900.
The single biggest unwind was a $59.67 million BTC-USDT long on HTX.
The single biggest unwind was a $59.67 million BTC-USDT long on HTX.
