The cryptocurrency market has faced significant turbulence, recording a liquidation of assets worth $1.38 billion in the past 24 hours.
Overview of Liquidation
According to Coinglass data, a substantial volume of liquidation has been recorded in the crypto market, with $1.24 billion from long positions and $145 million from short positions. The total amount equaled $1.38 billion, reflecting severe fluctuations in the market.
Impact on Bitcoin and Altcoins
Bitcoin faced a 10% decline, which added to the overall market volatility. Altcoins also plunged sharply, with many losing over 15% in value within a day. Total liquidations for Bitcoin reached $474.12 million, while Ethereum saw losses of $392.97 million.
Who Leads in Liquidation?
Bybit ranks first in total liquidation volume with $558.80 million, accounting for nearly 60% of the total. Binance follows in second place with $284.05 million.
The state of the crypto market remains unstable, and the current liquidation has become one of the most significant in the last year, affecting many investors.
