Date: Thu, Sept 05, 2024, 05:29 PM GMT
Today’s cryptocurrency market is feeling the pinch as major tokens are in the red. Bitcoin (BTC) has dropped by 3.23%, trading at $56,410, while Ethereum (ETH) and Solana (SOL) have also seen declines of 3.39% and 2.75%, respectively.
This downward trend has triggered a wave of liquidations in the market. According to data from Coinglass, a staggering $84.34 million worth of positions were liquidated in the past 24 hours. Of this total, $65.61 million came from liquidated long positions, while short positions accounted for $18.62 million.
The largest single liquidation occurred on the Bybit exchange, where a BTCUSD position worth $2.08 million was closed. As the market continues to navigate these fluctuations, traders are closely watching for further developments.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered financial advice.
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