Bitcoin Dumps to Weekly Lows as Liquidations Skyrocket to Over $1.1 Billion

Nearly a billion worth of long positions have been wrecked in the past 24 hours as the positive macro developments have failed to propel a price rally for risk-on assets like ￰0￱ the opposite, bitcoin and most altcoins have headed south once again in the past hour, with numerous weekly lows. BTCUSD.), ASTER (-13%), KAS (-11%), PI (-10.5%), WLFI (-10%), and many ￰1￱ big moves in either direction tend to harm over-leveraged traders, and the correction in the past 24 hours is no ￰2￱ than 210,000 such market participants have been wrecked daily, while the total value of liquidated positions has skyrocketed to more than $1.1 billion. Naturally, almost all of that amount came from longs ($974 million).

Liquidation Data on CoinGlass.