CoinTelegraph
More than $1 billion in crypto positions were liquidated over 24 hours as Bitcoin plunged below $78,000. Long positions accounted for $958 million of the total, according to the seed figures.
Why it matters
The imbalance shows that traders betting on rising prices bore most of the forced closures. Liquidations can amplify price moves as leveraged positions are closed, adding pressure during a downturn.
Market impact
Bitcoin's drop below $78,000 coincided with the liquidation wave. The figures point to substantial stress among leveraged longs, but do not establish how much exposure remains or whether selling will continue.
Frequently asked questions
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How much was liquidated across crypto markets over 24 hours?
More than $1 billion in crypto positions were liquidated over the 24-hour period.
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How much of the liquidation total came from long positions?
Long positions accounted for $958 million of the liquidations.
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What happened to Bitcoin's price during the liquidation wave?
Bitcoin plunged below $78,000 as the liquidations took place.
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Why can liquidations add pressure during a downturn?
Liquidations close leveraged positions, which can amplify a price move during a downturn.
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Do the liquidation figures show whether selling will continue?
No. The figures show substantial stress among leveraged longs, but do not establish whether selling will continue or how much exposure remains.
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