Crypto liquidations hit $1B over 24 hours as Bitcoin plummets
More than 400,000 traders were liquidated over the past 24 hours as Bitcoin plunged back below $100,000.
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More than 400,000 traders were liquidated over the past 24 hours as Bitcoin plunged back below $100,000.
On Dec. 5, Bitcoin retreated further from the psychologically crucial $100,000 level, briefly dipping below $93,000 and triggering a significant amount of long position liquidations.
Dogecoin, XRP, Stellar and Sandbox saw a larger liquidation share than usual as some top altcoins from the 2020-2021 cycle soared as high as 50%.
About $180 million in short positions have been wiped as Bitcoin hit another new all-time high of $81,358.
Traders who bet the crypto market would keep rising suffered the second-largest day of liquidations this month as Bitcoin and Ether both slid.
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“Liquidation data from exchanges are bogus and a vast underrepresentation of actual liquidation volumes in the market,” according to K33 Research.
