Feb 3, 2025
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Crypto Liquidations Exceed $2.22 Billion as Dogecoin Traders Lose $82 Million
The cryptocurrency market has seen a significant downturn, with total market capitalization dropping by approximately 11% in the last 24 hours to around $3 trillion. This decline resulted in over $2.22 billion in liquidations across various assets.
Key Highlights
- Dogecoin traders lost over $82 million, primarily from long positions totaling $69.32 million.
- Short sellers also faced losses of $13.35 million due to brief price spikes during the overall downtrend.
- Bitcoin recorded $406.96 million in liquidated positions, with $341.36 million from long trades.
- Ethereum traders experienced the highest losses, amounting to $601 million in liquidations.
- Dogecoin's price is currently at $0.235, down 22.5% in 24 hours.
This market shakeout marks a continuation of volatility following a week of consolidation. The impact of these liquidations may lead to further fluctuations in the coming days.
