Nearly $160 Million in Crypto Liquidated Amid Ongoing Market Decline
Cryptocurrency markets are experiencing a downturn, with major assets like Bitcoin, Ethereum, and Solana retreating from January highs. This follows the inauguration of pro-crypto President Donald Trump.
Key points include:
- $160 million in leveraged positions liquidated across exchanges, affecting over 87,687 traders.
- Bitcoin has decreased nearly 2% in 24 hours, currently trading around $96,000, down approximately 6% over four weeks.
- Liquidations for Bitcoin totaled about $22 million, primarily from long positions.
- Altcoin liquidations included nearly $20 million for Ethereum and approximately $16 million for Solana.
- The largest single liquidation was $1.6 million on Bybit in the BTC/USDT pair.
- Binance accounted for over 35% of total liquidations, followed by other exchanges like Bybit and OKX.
The market remains unstable, raising concerns about future price movements.