In the past 12 hours, the crypto market experienced massive liquidations totaling over $67 million, with long positions bearing the brunt of the losses.
According to Coinglass data reported by BlockBeats on September 28, the entire crypto market saw liquidations amounting to $67.2702 million within the last 12 hours. Of this, long positions accounted for the majority, with $48.9881 million being wiped out, while short positions faced liquidations worth $18.3158 million.
The spike in liquidations reflects the high volatility in the market, catching traders off guard and triggering forced sell-offs of leveraged positions. The significant liquidation of long orders suggests that many investors were betting on prices to rise, only to be met with unexpected downturns.
This wave of liquidations highlights the risks associated with leveraged trading, particularly during periods of heightened market uncertainty, and serves as a stark reminder for traders to exercise caution.
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