🚨 Crypto Carnage! $712M Liquidated as BTC Dips Below $105,000 📉
The crypto market just witnessed a brutal washout! Over the last 24 hours, a staggering $712 million in crypto liquidations rocked the derivatives market, with $477 million flushed in just the past 12 hours alone. 😱
This massive long squeeze hit bullish bettors hard, accounting for almost 90% of the forced closures. When liquidations cascade, it creates a volatile chain reaction – and we just saw it firsthand.
Key Highlights of the Carnage:
* Bitcoin (BTC): $221M liquidated 💔
* Ethereum (ETH): $116M liquidated 💔
* Solana (SOL): $32M liquidated (outpacing XRP due to a sharper fall!) 💔
The downturn began around May 22nd, with BTC's peak at $112,000. On-chain data from Santiment revealed increased whale activity then, with transactions over $100K and $1M surging. Looks like big players were taking profits, contributing to the downward pressure. 🐳
Stay safe out there, traders! Market volatility is no joke.
