Nearly $600 Million in Crypto Longs Liquidated as Bitcoin and Ethereum Fall to August Lows

Crypto traders betting on higher prices lost $599 million over the past 24 hours. The wipeout came as Bitcoin (BTC) and Ethereum (ETH) slid to their lowest levels in nearly three months. Longs made up 88% of $680.81 million in total crypto liquidations, Coinglass data shows. Friday’s US producer price data could now decide whether bets on a half-point Fed rate hike grow. Follow us on X to get the latest news as it happens Bitcoin Longs Absorb Nearly Half the Damage Bitcoin positions accounted for $325.28 million of the total, with longs making up 95.3%. Ethereum followed at $106.07 million, where 89.7% came from long bets. In all, 112,947 traders were liquidated. The largest single order was a $31.09 million Bitcoin long on Hyperliquid, closed at $72,250.

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