Over $489M in Crypto Longs Liquidated as Bitcoin, Ethereum Extend Losses

Over $489 million in forced long liquidations amid further drops in Bitcoin and Ethereum - The Cryptocurrency Post

Over $489 million in long positions were closed by force as Bitcoin and Ethereum fell further, extending a chain of deleveraging across the crypto market. Outlines cascading liquidation waves that hit leveraged traders, treasuries with derivatives, and futures order-book depth. The mechanics of automatic liquidations, thinning liquidity, and rising funding costs amplified losses across venues trading around the clock. The $489 million figure for…

Over $489M in Crypto Longs Liquidated as Bitcoin, Ethereum Extend Losses

Bitcoin extended its retreat from record highs on Tuesday, triggering a liquidation event that wiped out nearly $500 million in leveraged long positions and underscoring the volatile underpinnings of the recent rally. At time of publication, is down 1.2% over the past 24 hours and nearly 3% from…