The market experiences liquidations of $260 million as Bitcoin momentum declines
Liquidation pressures
The cryptocurrency market recorded liquidations worth $260 million over 24 hours, after Bitcoin failed to maintain its level above $104,000.
Details of the liquidation
Most of the liquidations occurred in long positions, with the largest trade valued at $4.9 million on the OKX platform in BTC.
Wide impact
The prices of many altcoins have declined, amid concerns that this could be the beginning of a larger correction wave following recent highs.
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