Crypto Liquidations Exceed $712 Million as Bitcoin Falls Below $105,000
Recent data indicates significant liquidations in the cryptocurrency market, exceeding $712 million in the past day due to declining prices of Bitcoin and other assets.
Key Points
- Liquidations totaled approximately $712 million, with $477 million occurring in the last 12 hours.
- Over 90% of these liquidations affected long investors, indicative of a long squeeze event.
- Bitcoin saw liquidations of $221 million, while Ethereum faced $116 million; Solana contributed $32 million.
- The downturn for Bitcoin began earlier, peaking at around $112,000 on May 22, followed by increased whale activity.
- Bitcoin's price dipped below $105,000 but has since rebounded to $105,800.
