Bitcoin and Ethereum spearheaded the wave of cryptocurrency liquidations, with the fallout impacting over 54,000 traders by erasing their leveraged positions as the market's valuation approached $2.1 trillion.
According to CoinGlass, the digital currency sphere saw more than $145 million in liquidations within a 24-hour span across various trading platforms. With many investors betting on a price drop, short positions accounted for $91 million of these liquidated trades.
Despite these setbacks, the overall market capitalization of cryptocurrencies experienced a 1.2% increase, as reported by CoinGecko, negating the bearish wagers. The most significant single liquidation involved a $4 million stake in Bitcoin paired with USDT on Binance, the leading cryptocurrency exchange.
Between Bitcoin and Ethereum, traders collectively
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First found on: Bitcoin and Ethereum Lead Market Resurgence with High Liquidation Volume
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