🔥1.7 billion USD liquidated in the dump of the crypto market on the morning of December 10

Late at night on December 9 and early morning on December 10, the price of Bitcoin underwent a strong correction, bringing the largest cryptocurrency in the world down from the level of 100,400 USD to as low as 94,150 USD on many exchanges within a few hours.

It then experienced a recovery before dropping deep again, before temporarily stabilizing at a price level near 98,000 USD at the time of writing.

According to data from #CoinGlass , in the past 24 hours, the total amount of liquidated derivative orders is 1.7 billion USD, the highest number of 2024.

Among them, long positions dominate with 90% of the orders being liquidated. Another fact is that the liquidation rate of altcoins is more than double that of 77964728048 or three times that of BTC, something that hasn't happened in a long time, indicating that the market has been overly optimistic about the growth prospects of altcoins.

Are you all okay? Let's share our feelings after yesterday's dump! It is expected that many people will receive emails from #Binance's in the morning.

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