Roughly $128.57 million in leveraged cryptocurrency positions were liquidated over the past 24 hours, underlining a fresh bout of volatility that has punished traders positioned for upside.
Data compiled by CoinGlass shows liquidations were skewed heavily toward bullish bets: long positions accounted for $88.73 million, or 68.9% of total liquidations, while short liquidations came in at $39.96 million, or 31.1%. The imbalance suggests a rapid downside move or sharp intraday whipsaw that caught overcrowded longs off guard, forcing exchanges to close positions as margin requirements were… Read more
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