Crypto Liquidation Reaches 277M Bitcoin and Ethereum Suffer the Most Losses

Key Points:
– A massive crypto market crash led to a total liquidation of $277.48 million in the past 24 hours, with Bitcoin and Ethereum experiencing the highest losses.
– Bitcoin saw $88.4 million in liquidations, while Ethereum faced $44.96 million, as traders were forced to close both long and short positions.
– Binance had the highest liquidation at $119 million, indicating significant risk among traders on the platform.
– Long liquidations occur when BTC prices drop sharply, forcing traders betting on a price increase to sell.
– The Bitcoin market had $88.4 million in liquidations, with long liquidations at $79.05 million and short liquidations at $9.35 million.
– Short liquidations happen when BTC prices rise, causing traders betting on a price drop to close their positions.
– Ethereum experienced $44.96 million in liquidations, with long liquidations at $40.74 million and short liquidations at $4.22 million.
– Other top cryptos like Solana and DOGE also saw significant liquidations, indicating a widespread decline in the market.
– The total market cap of the cryptocurrency sector dropped by 5.4% in the last 24 hours, with total liquidations reaching $279.31 million.
– Binance led in liquidation figures, suggesting high leverage or increased risk among traders on the exchange.
– Keep up with Coinpedia for the latest updates on the crypto market and liquidation trends.