Cardano (ADA) Faces 5747% Liquidation Imbalance as Longs Get Hit in Market Selloff

Traders betting on higher prices of Cardano (ADA) are under increased pressure as a wider sell-off in the cryptocurrency market is leading to liquidations that are heavily skewed toward longs. Cardano (ADA) extended its drop early Thursday following a hotter-than-expected CPI report, with the continued price decline taking a toll on bulls, who suffered the brunt of liquidations. According to CoinGlass data, Cardano saw a total of $4.27 million in liquidations, with longs accounting for almost all of this figure at $4.2 million while shorts came in at $73,080. The imbalance between long and short liquidations yields 5,747%, highlighting the extent to which bullish leveraged traders have been affected by the latest market decline.

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