The recent surge in cryptocurrency prices has led to significant market liquidations:
Over $1.1 billion in crypto positions were liquidated within 24 hours, marking the largest wipeout since 2021.
Bitcoin (BTC) surpassed $100,000, triggering approximately $970 million in liquidations, predominantly from short positions.
Ethereum (ETH) also experienced significant gains, contributing to the overall liquidation volume.
These rapid price movements have caught many traders off guard, leading to substantial losses for those betting against the market's direction.
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