Massive Liquidation Hits Crypto Market as Bitcoin Struggles to Hold Key Level – BitRss

The cryptocurrency market is experiencing significant turbulence as Bitcoin (BTC ($96,333.14)) $96,328 plummeted to $93,500, triggering panic across markets. The total market capitalization dropped to $3.15 trillion, leading to the liquidation of $276 million worth of positions within just 24 hours. Over one hundred thousand traders were forced out of the market due to this sudden price decline.

Over 110,000 Traders Liquidated

According to Coinglass, 110,705 traders faced liquidation, amounting to a total liquidation value of $276 million. A significant portion of these liquidations came from long positions, with $190.31 million lost from long positions and $85.98 million from short positions. Notably, a single trade on Binance resulted in a $7.5 million liquidation.