$775 Million Liquidated in Crypto Market as Trader Faces $25 Million Loss
The crypto market is experiencing significant turmoil, with billions liquidated and traders incurring heavy losses. A notable whale has an unrealized loss of $17.5 million from leveraged positions in several altcoins.
- The trader has exposure to Bitcoin, Solana, Hyperliquid, Ondo Finance, Hedera, Sui, and Official Trump.
- Over the past 24 hours, $775.59 million was liquidated, including $596.22 million in longs and $179.41 million in shorts, affecting 188,698 traders.
- The whale holds a $23.69 million position on Bitcoin at an entry price of $102,079.2 with 10x leverage, currently facing losses as Bitcoin trades below this level.
- If Bitcoin drops to $74,571, the trader will be liquidated, potentially resulting in total losses of around $25 million.
Altcoin Market Cap Analysis
The altcoin market cap, excluding Bitcoin and Ethereum, is approximately $816 billion, compared to a 20-day EMA of $876 billion, indicating bearish pressure.
- The market cap is near the lower Bollinger Band, suggesting bearish conditions, with potential resistance levels at $879 billion and $950 billion.
- A failure to maintain support at $808 billion could prompt further declines.
- The Relative Strength Index (RSI) is at 35.03, nearing oversold territory, indicating potential for a reversal but subdued buying pressure persists.
Source: TradingView