Total crypto market capitalization has shrunk by $216 billion since yesterday in a fall that has dropped it to just below $2.78 trillion according to CoinGecko.
The massive wipe-out is the second of its kind this month after leveraged derivatives traders were liquidated on Nov. 11 resulting in a $125 billion slump.
On-chain analyst Dylan LeClair has again fingered leveraged positions for today’s massive slump.
Leverage shakeout close to complete$BTC pic.twitter.com/rQyfaT8HUd
— Dylan LeClair (@DylanLeClair_) November 16, 2021
The total market cap has now fallen back to early November levels as major crypto assets continue correcting from their recent all-time highs.
Bitcoin Leads the Drop
Bitcoin is leading markets into the red during the Tuesday morning Asian trading session. BTC has lost 7.3% over the past 24 hours in a fall to around $61K at the time of writing.
Chart by TradingView
The king of crypto has retreated 11.6% from its Nov. 10 all-time high of a touch over $69K. P
We współpracy z: https://cryptopotato.com/crypto-markets-dump-200-billion-as-correction-deepens/
