Nearly $1 Billion Liquidated Across Crypto Market

Almost $1 billion worth of crypto assets have been liquidated in the past 24 hours, according to CoinGlass. This is the largest amount of liquidated crypto since March, when over $1.1 billion was liquidated in a single day after Bitcoin’s price dropped by 10%. Most of the liquidations were long positions, totaling $772 million. The recent flash crash in Bitcoin’s price, triggered by tensions in the Middle East, contributed to the market downturn. Binance recorded the largest single liquidation order, amounting to $8.46. Over 260,000 cryptocurrency traders have been liquidated during this crash, making it one of the worst in years. OKX, Binance, Huobi, BitMEX, CinEX, and Bitfinex are among the top exchanges in terms of total liquidations. While some altcoins like Dogecoin and Shiba Inu experienced a brief relief rally, the overall cryptocurrency market cap remains significantly lower. Bitcoin and Ethereum lead in total liquidations, followed by Solana and Dogecoin.