- Bitcoin’s 2.5% drop led to nearly $200 million in market-wide liquidation.
- Notable long positions hit hardest, with a $3.86 million single liquidation observed in the XBT/USDT pair.
- XRP experienced a $4.5 million loss within hours, fueled by a surge and subsequent crash triggered by a false BlackRock ETF filing.
In the last 24 hours, Bitcoin dipped from about $37,200 to $36,270, nearly breaking into the $35k zone. However, this mere 2.5% decrease in BTC value has had far-reaching implications for crypto market traders.
According to data from CoinGlass, a prominent tracker of the crypto derivative market, nearly 100,000 crypto traders have collectively lost almost $200 million. Long positions—contextually, the market participants who placed wagers on the market’s continued bullish surge suffered the most hit. They incurred liquidation as much as doubled the size observed for their counterparties in the short category.
Furthermore, CoinGlass data indicated that the most significant single liquidation that occurred in the last 24 hours was worth $3.86 million in the XBT/USDT pair. Notably, the exchanges where most traders lost a fortune via liquidation w…
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