Roughly $425 million in leveraged crypto long positions were liquidated over the past 24 hours as a market-wide correction pushed prices lower. Bitcoin and Ethereum both fell, and traders are watching for further volatility as the market reassesses risk.
Roughly $425 million in leveraged long positions were liquidated over the past 24 hours, positions forcibly closed amid a broad downward move in crypto prices. The wave landed hardest on the two largest cryptocurrencies, with Bitcoin trading around $85,600 to $85,700 and Ethereum around $2,711 to $2,725.
Substantial leverage unwinds like this one often lead to increased volatility in the near term, affecting market sentiment.
The scale of the liquidation points to a broader reassessment of risk across the market, with current pricing reflecting the shift in sentiment following the wave of forced closures.
Source: Crypto Briefing
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