A sweeping wave of forced liquidations ripped through crypto derivatives markets over the past 24 hours, with Bitcoin (BTC) alone seeing roughly $15.44 billion in positions wiped out—an event that traders framed less as a simple price dip and more as a rapid unwinding of overcrowded ‘leveraged long’ bets.
The liquidation shock was not confined to BTC. Ethereum (ETH) recorded an additional $10.15 billion in liquidations, while XRP (XRP) and Solana (SOL) saw about $2.80 billion and $3.11 billion, respectively. The breadth of the deleveraging across major assets suggests the move strained the… Read more
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XRP is extending a short-term pullback as traders weigh a double overhang: the U.S. Federal Reserve’s upcoming rate decision and lingering uncertainty around crypto legislation
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