Cryptocurrency market sees $340M wiped out in four-hour plunge
Crypto Briefing
The crypto market experienced $340 million in liquidations over four hours amid a sharp price decline in major assets.Summary
The cryptocurrency market suffered a significant downturn, resulting in the liquidation of approximately $340 million in leveraged positions within a four-hour period, according to CoinGlass data. Bitcoin dropped to around $93,700 after briefly exceeding $95,000, extending its weekly losses to over 10%. Other major assets, including Ethereum, which retreated to $3,100, along with XRP, Solana, BNB, and TRON, also experienced declines. These sharp price swings highlight the increasing market volatility and serve as a warning to traders about the inherent risks associated with maintaining leveraged positions during rapid price drops on derivatives platforms.
(Source：Crypto Briefing)