Discover why over $1 billion was liquidated in the digital currency market due to sharp price declines, causing significant market fluctuations.
In the past 24 hours, the digital currency market witnessed a $1.48 billion liquidation due to sharp price declines in digital currencies, especially Bitcoin, causing significant market fluctuations. These liquidations affected various trading pairs like BTC/USDT, creating a wave of market changes. Following this event, the price of Bitcoin plummeted below $88,000, and the total market value of digital currencies decreased by 9%. CoinGlass data shows that in the last 24 hours, 385,000 traders have been liquidated, with most liquidated positions being long positions.
