Ethereum goes through biggest liquidation event in six months with $242M in 24 hours

Ethereum (ETH) went through a peak hour of liquidations, erasing over $157M in positions on Binance. A shift in sentiment caused a reversal on the highly leveraged ETH market, showing the fragility of the recent price recovery. As of October 15, ETH saw over $157M in liquidations on Binance, while on all markets, over 92% of liquidations affected long positions. The hourly liquidation event was the most notable one in the past six months, cutting short the recent ETH recovery. The ETH liquidations reached a total of $292M in the past 24 hours, with around $200M for BTC. Most of the liquidations happened in a short time span, often taking minutes to liquidate the most at-risk positions.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Cryptopolitan.