In the last 24 hours, the liquidation volume in the crypto market has surpassed $1.1 billion, reacting to the sharp decline in the prices of leading digital assets. In particular, Bitcoin has once again lost the psychological mark of $100,000 and temporarily dropped below $96,000, setting a new local minimum.
This is reported by Business • Media
Mass Liquidations of Traders’ Positions
The correction affected not only Bitcoin but also major altcoins: within the top 15 cryptocurrencies by market capitalization, daily price declines ranged from 2% to 9.6%. According to CoinGlass, over the past 24 hours, positions worth more than $1.1 billion were forcibly closed in the market, with the majority of losses attributed to Bitcoin — nearly $508 million.
Ethereum ranked second in liquidation volume with $268.7 million, while Solana came in third with $69.9 million. A total of 245,756 traders were affected by the liquidation. Long positions incurred losses of $969 million, while traders betting on declines lost $128.2 million. The largest single position closure was recorded on the HTX exchange, where one trader lost $44.3 million.
Reasons for the Market Correction
“Analysts believe that the market correction followed statements from senior U.S. officials about the beginning of a major military operation against Venezuela.”
It is worth noting that recently, the authorities in Taiwan announced their intention to explore the possibility of adding Bitcoin to their reserves, which also sparked lively discussions in the cryptocurrency community.