Crypto market sees over $250M in long positions liquidated within an hour
Crypto Briefing
The crypto market experienced over $250 million in long position liquidations in one hour amid a sharp downturn.Summary
The cryptocurrency market experienced a significant downturn, leading to the liquidation of over $250 million in long positions within a single hour as leveraged bets faced margin calls. Bitcoin briefly approached $100,000, marking its lowest point since June 23, and has since dropped about 5% in the last day to trade around $101,247. The broader crypto market capitalization fell by 4.5% to $3.4 trillion, with major altcoins like Ethereum, XRP, BNB, Solana, and Dogecoin also seeing declines. In total, over $1 billion in futures positions were liquidated across the market over the preceding 24 hours.
(Source：Crypto Briefing)