Bitcoin Bulls Take the Biggest Hit in a $1.49 Billion Crypto Liquidation Day

Crypto traders lost $1.49 billion to forced liquidations over the past 24 hours, Coinglass data shows. Bullish bets on Bitcoin (BTC) took the heaviest blow. Most of those losses landed on one side of the market. However, one major token moved against the sell-off and left short sellers on the losing end. Bitcoin and Ethereum Longs Carry Most of the Damage Long bets accounted for $1.29 billion, or 86.8% of the total, according to Coinglass. Short sellers absorbed $197.08 million, and 243,456 traders were forced out. Bitcoin positions made up the largest share at $475.19 million, with longs at 87.6%. Ethereum (ETH) followed with $330.59 million, of which 84.7% came from longs. Solana (SOL) and XRP (XRP) added $82.50 million and $37.56 million, respectively.

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