With Bitcoin (BTC) experiencing a 7% drop in the last 24 hours, falling to $66,850, the crypto market suffered a loss of millions of dollars.
Within the last 24 hours, Bitcoin dropped 7% from $73,730 to $66,850. This led to the liquidation of futures positions worth hundreds of millions of dollars.
According to Coinglass data, the total value of liquidated positions in the last 24 hours reached $680 million. It was stated that more than 192,000 crypto investors were affected by this situation.
The largest liquidation of a Bitcoin long position, worth $13 million, took place on the OKX crypto exchange, with approximately 80% of the total liquidated positions originating from long positions.
The liquidated positions amounted to $242 million for Bitcoin and $114 million for Ethereum (ETH). When all cryptocurrency data is examined, $545 million worth of long positions were liquidated in the last 24 hours, while the total value of liquidated short positions amounted to $133 million.
Of the total liquidation amount of $680 million, $251 million occurred on the largest crypto exchange, OKX, with Binance coming in second with $191 million.
