Cryptocurrency markets have experienced sharp declines in the past hour. Experts attribute this sudden drop to the liquidation of long positions. A slight adjustment due to the accumulation of high leverage led to chain liquidations.
According to the data, a total of $208.33 million worth of positions were liquidated in the past hour alone, of which $152.65 million was in long positions and $55.68 million in short positions.
The entire market fell, with Bitcoin (BTC) down 1.28% in the past hour to $112,864. Ethereum (ETH) similarly fell by 2.38% to $3,983. Both assets underwent large-scale liquidations, with $71.59 million liquidated in ETH and $41.18 million in BTC.
Chart showing the decline in BTC price.
Big moves were also seen in the altcoin market. Solana (SOL) fell by 2.14% in the past hour, dropping to $193. SOL’s liquidation amount totaled $35.21 million. In addition, low-volatility but high-volatility tokens like PUMP and FARTCOIN experienced total liquidations of $7.49 million and $6.56 million, respectively.
Total liquidations in the past 24 hours amounted to $552.27 million. Of this amount, $395.29 million consisted of long positions and $156.98 million consisted of short positions. These numbers once again demonstrate the high risks inherent in leveraged trading in the market.
*This is not investment advice.
