Crypto Traders Caught in Liquidation Wave
The cryptocurrency market witnessed a surge in liquidations in the past hour, resulting in a total of $20.78 million in losses. Long positions bore the brunt of these liquidations, accounting for $19.61 million, while short positions were liquidated to the tune of $1.16 million.
The spike in liquidations suggests a period of heightened volatility and potential market turmoil. Traders who were unable to manage their risk effectively may have been caught off guard by sudden price movements, leading to forced sell-offs.
