Crypto Market Decline Wipes Out $370M in Bullish Bets
Crypto Market Liquidation
A recent cryptocurrency market downturn resulted in the liquidation of approximately $370 million worth of bullish positions as and Ethereum surrendered previous gains. Binance, Hyperliquid, and Bybit exchanges were most affected, accounting for 72% of all forced liquidations during this market correction. The significant wipeout of leveraged long positions indicates the volatility inherent in cryptocurrency markets and the risks faced by traders using excessive leverage. This event underscores the importance of risk management strategies when trading digital assets, particularly during periods of heightened market uncertainty and rapid price movements.
How much value was wiped out in the crypto market decline?
Approximately $370 million worth of bullish bets were wiped out in the crypto market decline.
Which exchanges were most affected by this liquidation?
Binance, Hyperliquid, and Bybit were the most affected exchanges, comprising 72% of forced liquidations.
Which cryptocurrencies gave back gains during this downturn?
Bitcoin (BTC) and Ethereum (ETH) gave back gains during this market downturn.
Location: Raipur - C.G.
Category: Crypto
