The market has really taken a hit this time!

On August 1st, the total long positions on the entire network were liquidated, dropping to $922.2 million. This is the most severe drop since the end of February this year, just thinking about it is painful!

Bitcoin dropped directly below 115,000 that day, falling almost 3% in just one day, dragging other coins down with it. Solana dropped over 8%, Dogecoin nearly 5%, and Ethereum, Cardano, and others also fell over 4%. It seems that everyone is a bit anxious about the overall environment, and with Bitcoin failing to hold key support levels, the bulls lost confidence, and stop-loss orders all came out.

In the end, it's still the leverage that's to blame. When the leverage is too high, the market can shake a little, and it's easy to get forcibly liquidated.

So, playing with cryptocurrencies really requires caution. High leverage might feel great for a moment, but getting liquidated can be deadly! Have you been affected by this wave of market movement recently? $BTC