Crypto Liquidations Surge to $535M as Bitcoin Falls Below $98K

Crypto liquidations reached an astronomical $535.53 million in the past 24 hours as a result of بازاررمزارز دیجیتالی (仮想通貨) volatility, impacting 169,591 traders. Bitcoin slid nearly 5% to $97,102, while altcoins like Ethereum (ETH) and Solana (SOL) also encountered substantial losses.

The crypto market experienced a downturn on Monday, with total liquidations reaching an astounding $535.53 million across the board. This affected a staggering 169,591 traders over a 24-hour span. Bitcoin's price dropped nearly 5% to $97,102, while altcoins like ETH and SOL also faced significant losses.

According to data from Coinglass, Binance experienced the highest liquidations in the past four hours, with a total of $193.23 million in liquidations. This was largely driven by long positions, with long liquidations on Binance reaching $189.23M.

The largest single liquidation was an ETHUSDT position on Binance, valued at $17.74M. This highlights the high-risk, high-reward nature of leveraged trading in the current market.

CoinGecko’s price snapshot at 9:00 am showed Bitcoin down 4.8% to $97,102, with selling pressure largely driven by long liquidations. Among the top ten cryptocurrencies, only XRP managed to eke out a slight gain of 0.2%.

Meanwhile, ETH slid 6.3% to $2,100 and SOL dropped 8.2% to $40. Among the top ten cryptocurrencies, XRP was the only gainer, albeit by a mere 0.2%.

As بازاررمزارز دیجیتالی (仮想通貨) prices continue to fluctuate, it is crucial to note that liquidations occur when an exchange forcibly closes a trader’s leveraged position due to insufficient margin to cover losses from market movements that go against their trades.

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