Over $800 million liquidated across the network in 24 hours
Recently, the cryptocurrency market has experienced dramatic fluctuations, with over $800 million liquidated across the network in 24 hours.
CoinGlass data shows that on July 19, the cryptocurrency market collectively pulled back, with over 180,000 people liquidated, totaling over $800 million. Bitcoin once fell from over $120,000 USD to around $116,788 USD, a drop of nearly 2% within 24 hours. In addition to Bitcoin, Ethereum fell by about 1%, SUI fell by over 6%, XRP fell by over 4%, and ADA fell by over 3%.
The trigger for this liquidation event was the 'Guiding and Establishing America's Stablecoin National Innovation Act' signed by the White House the day before. Local time on July 18, US President Trump signed the bill, marking the first official establishment of a regulatory framework for digital stablecoins in the United States. Affected by this, the cryptocurrency market experienced significant fluctuations, triggering a large number of contract liquidations.
Here are some suggestions for position management:
1️⃣ Determine your position based on your risk tolerance
2️⃣ Adjust your position according to market trends
3️⃣ Diversify your investments and control single positions
4️⃣ Adopt reasonable position building and replenishment strategies
5️⃣ Set stop-loss and take-profit levels
6️⃣ Avoid over-trading
7️⃣ Reserve margin reserves
