Cryptocurrency Market Sees $716M in Liquidations, Long Positions Hit Hardest
The cryptocurrency market experienced a wave of liquidations totalling# $716 million in the past 24 hours, according to data from Coinglass reported by Odaily. The majority of these liquidations came from long positions, which accounted for $515 million, indicating a sharp downturn in prices. Short positions were also impacted, with $201 million liquidated during the same period.
This significant volatility highlights ongoing market uncertainty and reinforces the risks associated with leveraged trading in the crypto space. Traders are advised to exercise caution as market dynamics remain unstable.
