Profit-taking by investors has led to a wave of liquidations in the cryptocurrency market.
In the past twenty-four hours, the total sales of 133,643 traders reached 576.35 million USD, according to CoinGlass. This figure includes approximately 124 million USD from long-term Bitcoin liquidations and 184 million USD from long-term Ether liquidations. This occurs when traders are forced to sell their assets at market prices to settle their debts, resulting in price declines.