The crypto market is urgently bleeding, with massive liquidations recorded so far.
About $403 million in Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies have exited exchanges within 24 hours.
This market recorded these losses as volatility moved against futures traders.
According to Coinglass, about 117,342 traders were liquidated, leading to a total liquidation of $305.80 million at this time.
The most significant single liquidation (ETH/USDT) happened on the leading cryptocurrency exchange, Binance, valued at $12.01 million.
Current Liquidation Figures for BTC and ETH
Notably, a significant portion of this liquidation came from long traders who had forecasted a possible recovery for the crypto market.
In other words, these traders were betting on a bullish price retracement for these cryptocurrencies.
Out of $305.80 million recorded, $216.23 million came from long traders, leaving short traders with a liquidation worth $89.57 million.
$84.68 million worth of
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