Crypto Liquidations Near $1 Billion as Bitcoin, Ethereum and XRP Fall. Here’s What Happened

TLDR About $942 million in leveraged crypto bets were liquidated in 24 hours, with longs making up 91.6% of the total. Ether traders took the biggest hit, with about $283 million to $286 million in liquidations. Bitcoin traded near $81,000, down roughly 3%, while ether fell more than 5% to about $2,350. Total crypto market value dropped nearly 5% to $2.76 trillion. Binance handled 53.7% of all liquidations, and gold and silver contracts on crypto exchanges were also hit. Traders on crypto exchanges lost about $942.1 million in leveraged positions over the past 24 hours. The figure comes from Coinglass data. Prices fell across the market on Thursday. Long positions made up $863.3 million of the total. That is 91.6% of all liquidations. Long traders bet that prices will rise.

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