Yesterday, as market volatility increased, traders who had invested in cryptocurrency faced significant losses, resulting in an overall liquidation of over $524.8 million.
This affected nearly 186,000 traders, according to data from Coinglass.
Bitcoin and ether were the two most affected cryptocurrencies, with liquidations totaling over $142.5 million and $89.9 million, respectively.
These liquidations occur when a trader’s positions are forcibly closed due to losses or insufficient margin.
Despite briefly rising above $100,000 earlier this week, Bitcoin has dropped 2.26% in the past 24 hours and is currently trading at $94,314, according to The Block’s price page.
